UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-Q
(Mark One)
|
x |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For The Quarterly Period Ended June 30, 2015
OR
|
¨ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission File Number: 814-00702
HERCULES TECHNOLOGY GROWTH
CAPITAL, INC.
(Exact Name of Registrant as Specified in its Charter)
|
Maryland |
|
743113410 |
|
(State or Jurisdiction of Incorporation or Organization) |
|
(IRS Employer Identification No.) |
|
400 Hamilton Ave., Suite 310 Palo Alto, California (Address of Principal Executive Offices) |
|
94301 (Zip Code) |
|
|
(650) 289-3060
(Registrant’s Telephone Number, Including Area Code)
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periods that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ¨ No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
|
Large accelerated filer |
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x |
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Accelerated filer |
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¨ |
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|||
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Non-accelerated filer |
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¨ |
|
Smaller reporting company |
|
¨ |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x
On August 3, 2015, there were 72,439,850 shares outstanding of the Registrant’s common stock, $0.001 par value.
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
FORM 10-Q TABLE OF CONTENTS
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3 |
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Item 1. |
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3 |
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3 |
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5 |
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6 |
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7 |
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Consolidated Schedule of Investments as of June 30, 2015 (unaudited) |
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8 |
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Consolidated Schedule of Investments as of December 31, 2014 |
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22 |
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36 |
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Item 2. |
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Management’s Discussion and Analysis of Financial Condition and Results of Operations |
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65 |
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Item 3. |
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105 |
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Item 4. |
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106 |
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107 |
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Item 1. |
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107 |
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107 |
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Item 2. |
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109 |
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Item 3. |
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109 |
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Item 4. |
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109 |
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Item 5. |
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109 |
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Item 6. |
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109 |
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111 |
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2
In this Quarterly Report, the “Company,” “Hercules,” “we,” “us” and “our” refer to Hercules Technology Growth Capital, Inc. and its wholly owned subsidiaries and its affiliated securitization trusts unless the context otherwise requires.
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES
(unaudited)
(dollars in thousands, except per share data)
|
|
|
June 30, 2015 |
|
|
December 31, 2014 |
|
||
|
Assets |
|
|
|
|
|
|
|
|
|
Investments: |
|
|
|
|
|
|
|
|
|
Non-control/Non-affiliate investments (cost of $1,245,406 and $1,019,799, respectively) |
|
$ |
1,228,202 |
|
|
$ |
1,012,738 |
|
|
Affiliate investments (cost of $15,600 and $15,538, respectively) |
|
|
10,453 |
|
|
|
7,999 |
|
|
Total investments, at value (cost of $1,261,006 and $1,035,337, respectively) |
|
|
1,238,655 |
|
|
|
1,020,737 |
|
|
Cash and cash equivalents |
|
|
115,987 |
|
|
|
227,116 |
|
|
Restricted cash |
|
|
11,810 |
|
|
|
12,660 |
|
|
Interest receivable |
|
|
9,226 |
|
|
|
9,453 |
|
|
Other assets |
|
|
20,875 |
|
|
|
29,257 |
|
|
Total assets |
|
$ |
1,396,553 |
|
|
$ |
1,299,223 |
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
$ |
12,977 |
|
|
$ |
14,101 |
|
|
Long-term Liabilities (Convertible Senior Notes) |
|
|
17,399 |
|
|
|
17,345 |
|
|
Wells Facility |
|
|
49,622 |
|
|
|
— |
|
|
2017 Asset-Backed Notes |
|
|
— |
|
|
|
16,049 |
|
|
2021 Asset-Backed Notes |
|
|
129,300 |
|
|
|
129,300 |
|
|
2019 Notes |
|
|
150,364 |
|
|
|
170,364 |
|
|
2024 Notes |
|
|
103,000 |
|
|
|
103,000 |
|
|
Long-term SBA Debentures |
|
|
190,200 |
|
|
|
190,200 |
|
|
Total liabilities |
|
$ |
652,862 |
|
|
$ |
640,359 |
|
|
|
|
|
|
|
|
|
|
|
|
Net assets consist of: |
|
|
|
|
|
|
|
|
|
Common stock, par value |
|
|
73 |
|
|
|
65 |
|
|
Capital in excess of par value |
|
|
760,148 |
|
|
|
657,233 |
|
|
Unrealized depreciation on investments(1) |
|
|
(24,238 |
) |
|
|
(17,076 |
) |
|
Accumulated realized gains on investments |
|
|
16,137 |
|
|
|
14,079 |
|
|
Undistributed net investment income (Distributions in excess of net investment income) |
|
|
(8,429 |
) |
|
|
4,563 |
|
|
Total net assets |
|
$ |
743,691 |
|
|
$ |
658,864 |
|
|
Total liabilities and net assets |
|
$ |
1,396,553 |
|
|
$ |
1,299,223 |
|
|
|
|
|
|
|
|
|
|
|
|
Shares of common stock outstanding ($0.001 par value, 200,000,000 and 100,000,000 authorized, respectively) |
|
|
72,493 |
|
|
|
64,715 |
|
|
Net asset value per share |
|
$ |
10.26 |
|
|
$ |
10.18 |
|
|
(1) |
Amounts includes $1.9 million in net unrealized depreciation on investments, other assets, and accrued liabilities including escrow receivables, estimated taxes payable, and Citigroup warrant participation agreement liabilities. |
See notes to consolidated financial statements.
3
The following table presents the assets and liabilities of our consolidated securitization trusts for the asset-backed notes (see Note 4), which are variable interest entities (“VIE”). The assets of our securitization VIEs can only be used to settle obligations of our consolidated securitization VIEs, these liabilities are only the obligations of our consolidated securitization VIEs, and the creditors (or beneficial interest holders) do not have recourse to our general credit. These assets and liabilities are included in the Consolidated Statement of Assets and Liabilities above.
|
(Dollars in thousands) |
|
June 30, 2015 |
|
|
December 31, 2014 |
|
||
|
Assets |
|
|
|
|
|
|
|
|
|
Restricted Cash |
|
$ |
11,810 |
|
|
$ |
12,660 |
|
|
Total investments, at value (cost of $226,338 and $296,314, respectively) |
|
|
224,710 |
|
|
|
291,464 |
|
|
Total assets |
|
$ |
236,520 |
|
|
$ |
304,124 |
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
Asset-Backed Notes |
|
$ |
129,300 |
|
|
$ |
145,349 |
|
|
Total liabilities |
|
$ |
129,300 |
|
|
$ |
145,349 |
|
See notes to consolidated financial statements.
4
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(unaudited)
(in thousands, except per share data)
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
||||||||||
|
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
||||
|
Investment income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Control/Non-Affiliate investments |
$ |
35,144 |
|
|
$ |
30,384 |
|
|
$ |
65,605 |
|
|
$ |
59,766 |
|
|
Affiliate investments |
|
96 |
|
|
|
152 |
|
|
|
195 |
|
|
|
1,616 |
|
|
Total interest income |
|
35,240 |
|
|
|
30,536 |
|
|
|
65,800 |
|
|
|
61,382 |
|
|
Fees |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Control/Non-Affiliate investments |
|
2,886 |
|
|
|
3,454 |
|
|
|
4,819 |
|
|
|
8,366 |
|
|
Affiliate investments |
|
— |
|
|
|
11 |
|
|
|
1 |
|
|
|
23 |
|
|
Total fees |
|
2,886 |
|
|
|
3,465 |
|
|
|
4,820 |
|
|
|
8,389 |
|
|
Total investment income |
|
38,126 |
|
|
|
34,001 |
|
|
|
70,620 |
|
|
|
69,771 |
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest |
|
7,571 |
|
|
|
6,534 |
|
|
|
15,425 |
|
|
|
13,682 |
|
|
Loan fees |
|
1,580 |
|
|
|
1,091 |
|
|
|
3,093 |
|
|
|
3,167 |
|
|
General and administrative |
|
4,069 |
|
|
|
2,126 |
|
|
|
7,687 |
|
|
|
4,587 |
|
|
Employee Compensation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Compensation and benefits |
|
5,857 |
|
|
|
3,233 |
|
|
|
9,653 |
|
|
|
7,454 |
|
|
Stock-based compensation |
|
2,267 |
|
|
|
2,466 |
|
|
|
4,987 |
|
|
|
4,026 |
|
|
Total employee compensation |
|
8,124 |
|
|
|
5,699 |
|
|
|
14,640 |
|
|
|
11,480 |
|
|
Total operating expenses |
|
21,344 |
|
|
|
15,450 |
|
|
|
40,845 |
|
|
|
32,916 |
|
|
Loss on debt extinguishment (Long-term Liabilities - Convertible Senior Notes) |
|
(1 |
) |
|
|
— |
|
|
|
(1 |
) |
|
|
— |
|
|
Net investment income |
|
16,781 |
|
|
|
18,551 |
|
|
|
29,774 |
|
|
|
36,855 |
|
|
Net realized gain (loss) on investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Control/Non-Affiliate investments |
|
(1,254 |
) |
|
|
2,470 |
|
|
|
2,058 |
|
|
|
7,343 |
|
|
Total net realized gain (loss) on investments |
|
(1,254 |
) |
|
|
2,470 |
|
|
|
2,058 |
|
|
|
7,343 |
|
|
Net increase in unrealized appreciation (depreciation) on investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-Control/Non-Affiliate investments |
|
(12,854 |
) |
|
|
(4,378 |
) |
|
|
(9,554 |
) |
|
|
(5,418 |
) |
|
Affiliate investments |
|
79 |
|
|
|
(3,452 |
) |
|
|
2,392 |
|
|
|
(3,404 |
) |
|
Total net unrealized appreciation (depreciation) on investments |
|
(12,775 |
) |
|
|
(7,830 |
) |
|
|
(7,162 |
) |
|
|
(8,822 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net realized and unrealized gain (loss) |
|
(14,029 |
) |
|
|
(5,360 |
) |
|
|
(5,104 |
) |
|
|
(1,479 |
) |
|
Net increase in net assets resulting from operations |
$ |
2,752 |
|
|
$ |
13,191 |
|
|
$ |
24,670 |
|
|
$ |
35,376 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income before investment gains and losses per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.23 |
|
|
$ |
0.30 |
|
|
$ |
0.43 |
|
|
$ |
0.59 |
|
|
Change in net assets per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.03 |
|
|
$ |
0.21 |
|
|
$ |
0.35 |
|
|
$ |
0.57 |
|
|
Diluted |
$ |
0.03 |
|
|
$ |
0.20 |
|
|
$ |
0.35 |
|
|
$ |
0.55 |
|
|
Weighted average shares outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
71,368 |
|
|
|
61,089 |
|
|
|
67,596 |
|
|
|
60,980 |
|
|
Diluted |
|
71,593 |
|
|
|
62,588 |
|
|
|
67,901 |
|
|
|
62,642 |
|
|
Dividends declared per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.31 |
|
|
$ |
0.31 |
|
|
$ |
0.62 |
|
|
$ |
0.62 |
|
See notes to consolidated financial statements.
5
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS
(unaudited)
(dollars and shares in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Undistributed |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
net investment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
income/ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized |
|
|
Accumulated |
|
|
(Distributions |
|
|
Provision for |
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
Capital in |
|
|
Appreciation |
|
|
Realized |
|
|
in excess of |
|
|
Income Taxes |
|
|
|
|
|
|||||
|
|
Common Stock |
|
|
excess |
|
|
(Depreciation) |
|
|
Gains (Losses) |
|
|
investment |
|
|
on Investment |
|
|
Net |
|
|||||||||||
|
|
Shares |
|
|
Par Value |
|
|
of par value |
|
|
on Investments |
|
|
on Investments |
|
|
income) |
|
|
Gains |
|
|
Assets |
|
||||||||
|
Balance at December 31, 2013 |
|
61,837 |
|
|
$ |
62 |
|
|
$ |
656,594 |
|
|
$ |
3,598 |
|
|
$ |
(15,240 |
) |
|
$ |
5,335 |
|
|
$ |
(342 |
) |
|
$ |
650,007 |
|
|
Net increase (decrease) in net assets resulting from operations |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(8,822 |
) |
|
|
7,343 |
|
|
|
36,855 |
|
|
|
— |
|
|
|
35,376 |
|
|
Public offering, net of offering expenses |
|
650 |
|
|
|
1 |
|
|
|
9,457 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9,458 |
|
|
Issuance of common stock due to stock option exercises |
|
104 |
|
|
|
— |
|
|
|
1,342 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,342 |
|
|
Retired shares from net issuance |
|
(82 |
) |
|
|
— |
|
|
|
(1,237 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(1,237 |
) |
|
Issuance of common stock under restricted stock plan |
|
982 |
|
|
|
1 |
|
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Retired shares for restricted stock vesting |
|
(285 |
) |
|
|
— |
|
|
|
(2,207 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(2,207 |
) |
|
Issuance of common stock as stock dividend |
|
45 |
|
|
|
— |
|
|
|
664 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
664 |
|
|
Dividends distributed |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(38,555 |
) |
|
|
— |
|
|
|
(38,555 |
) |
|
Stock-based compensation |
|
— |
|
|
|
— |
|
|
|
4,061 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4,061 |
|
|
Balance at June 30, 2014 |
|
63,251 |
|
|
$ |
64 |
|
|
$ |
668,673 |
|
|
$ |
(5,224 |
) |
|
$ |
(7,897 |
) |
|
$ |
3,635 |
|
|
$ |
(342 |
) |
|
$ |
658,909 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at December 31, 2014 |
|
64,715 |
|
|
$ |
65 |
|
|
$ |
657,233 |
|
|
$ |
(17,076 |
) |
|
$ |
14,079 |
|
|
$ |
4,905 |
|
|
$ |
(342 |
) |
|
$ |
658,864 |
|
|
Net increase (decrease) in net assets resulting from operations |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(7,162 |
) |
|
|
2,058 |
|
|
|
29,774 |
|
|
|
— |
|
|
|
24,670 |
|
|
Public offering, net of offering expenses |
|
7,591 |
|
|
|
8 |
|
|
|
100,084 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
100,092 |
|
|
Issuance of common stock due to stock option exercises |
|
36 |
|
|
|
— |
|
|
|
428 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
428 |
|
|
Retired shares from net issuance |
|
(28 |
) |
|
|
— |
|
|
|
(423 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(423 |
) |
|
Issuance of common stock under restricted stock plan |
|
603 |
|
|
|
1 |
|
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Retired shares for restricted stock vesting |
|
(514 |
) |
|
|
(1 |
) |
|
|
(3,399 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(3,400 |
) |
|
Issuance of common stock as stock dividend |
|
90 |
|
|
|
— |
|
|
|
1,199 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,199 |
|
|
Dividends distributed |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(42,766 |
) |
|
|
— |
|
|
|
(42,766 |
) |
|
Stock-based compensation |
|
— |
|
|
|
— |
|
|
|
5,027 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,027 |
|
|
Balance at June 30, 2015 |
|
72,493 |
|
|
$ |
73 |
|
|
$ |
760,148 |
|
|
$ |
(24,238 |
) |
|
$ |
16,137 |
|
|
$ |
(8,087 |
) |
|
$ |
(342 |
) |
|
$ |
743,691 |
|
See notes to consolidated financial statements.
6
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED STATEMENT OF CASH FLOWS
(unaudited)
(dollars in thousands)
|
|
For the Six Months Ended June 30, |
|
|||||
|
Cash flows from operating activities: |
2015 |
|
|
2014 |
|
||
|
Net increase in net assets resulting from operations |
$ |
24,670 |
|
|
$ |
35,376 |
|
|
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities: |
|
|
|
|
|
|
|
|
Purchase of investments |
|
(373,422 |
) |
|
|
(286,837 |
) |
|
Principal and fee payments received on investments |
|
154,208 |
|
|
|
204,966 |
|
|
Proceeds from the sale of investments |
|
7,494 |
|
|
|
10,271 |
|
|
Net unrealized depreciation on investments |
|
7,162 |
|
|
|
8,822 |
|
|
Net realized gain on investments |
|
(2,058 |
) |
|
|
(7,343 |
) |
|
Accretion of paid-in-kind principal |
|
(1,584 |
) |
|
|
(1,337 |
) |
|
Accretion of loan discounts |
|
(3,412 |
) |
|
|
(5,170 |
) |
|
Accretion of loan discount on Convertible Senior Notes |
|
123 |
|
|
|
541 |
|
|
Loss on debt extinguishment (Long-term Liabilities - Convertible Senior Notes) |
|
1 |
|
|
|
— |
|
|
Payment of loan discount on Convertible Senior Notes |
|
(5 |
) |
|
|
— |
|
|
Accretion of loan exit fees |
|
(6,624 |
) |
|
|
(6,091 |
) |
|
Change in deferred loan origination revenue |
|
1,758 |
|
|
|
(349 |
) |
|
Unearned fees related to unfunded commitments |
|
1,074 |
|
|
|
(598 |
) |
|
Amortization of debt fees and issuance costs |
|
2,669 |
|
|
|
2,889 |
|
|
Depreciation |
|
111 |
|
|
|
106 |
|
|
Stock-based compensation and amortization of restricted stock grants |
|
5,027 |
|
|
|
4,061 |
|
|
Change in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Interest and fees receivable |
|
227 |
|
|
|
262 |
|
|
Prepaid expenses and other assets |
|
2,744 |
|
|
|
(2,410 |
) |
|
Accounts payable |
|
(732 |
) |
|
|
571 |
|
|
Accrued liabilities |
|
200 |
|
|
|
(4,849 |
) |
|
Net cash provided by (used in) operating activities |
|
(180,369 |
) |
|
|
(47,119 |
) |
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
Purchases of capital equipment |
|
(80 |
) |
|
|
(57 |
) |
|
Reduction of (investment in) restricted cash |
|
850 |
|
|
|
2,780 |
|
|
Net cash provided by (used in) investing activities |
|
770 |
|
|
|
2,723 |
|
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
Issuance of common stock, net |
|
100,092 |
|
|
|
9,873 |
|
|
Issuance (retirement) of employee shares |
|
(3,395 |
) |
|
|
(2,102 |
) |
|
Dividends paid |
|
(41,567 |
) |
|
|
(37,891 |
) |
|
Repayments of 2019 Notes Payable |
|
(20,000 |
) |
|
|
— |
|
|
Repayments of 2017 Asset-Backed Notes |
|
(16,049 |
) |
|
|
(43,010 |
) |
|
Repayments of Long-Term SBA Debentures |
|
— |
|
|
|
(34,800 |
) |
|
Borrowings of credit facilities |
|
50,000 |
|
|
|
— |
|
|
Repayments of credit facilities |
|
(378 |
) |
|
|
— |
|
|
Cash Paid for redemption of Convertible Senior Notes |
|
(65 |
) |
|
|
— |
|
|
Fees paid for credit facilities and debentures |
|
(168 |
) |
|
|
(34 |
) |
|
Net cash provided by (used in) financing activities |
|
68,470 |
|
|
|
(107,964 |
) |
|
Net decrease in cash and cash equivalents |
|
(111,129 |
) |
|
|
(152,360 |
) |
|
Cash and cash equivalents at beginning of period |
|
227,116 |
|
|
|
268,368 |
|
|
Cash and cash equivalents at end of period |
$ |
115,987 |
|
|
$ |
116,008 |
|
|
|
|
|
|
|
|
|
|
|
Supplemental non-cash investing and financing activities: |
|
|
|
|
|
|
|
|
Dividends Reinvested |
$ |
1,199 |
|
|
$ |
664 |
|
|
Paid-in-kind Principal |
$ |
2,012 |
|
|
$ |
1,365 |
|
See notes to consolidated financial statements.
7
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Maturity Date |
|
Interest Rate and Floor |
|
Principal Amount |
|
|
Cost (2) |
|
|
Value (3) |
|
|||
|
Debt Investment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Communications & Networking |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OpenPeak, Inc. (10)(12) |
|
Communications & Networking |
|
Senior Secured |
|
April 2017 |
|
Interest rate PRIME + 8.75% or Floor rate of 12.00%, 7.45% Exit Fee |
|
$ |
10,440 |
|
|
$ |
10,788 |
|
|
$ |
6,352 |
|
|
SkyCross, Inc. (11)(12)(13) |
|
Communications & Networking |
|
Senior Secured |
|
January 2018 |
|
Interest rate PRIME + 7.70% or Floor rate of 10.95%, PIK Interest 5.00%, 7.60% Exit Fee |
|
$ |
22,000 |
|
|
|
21,781 |
|
|
|
19,594 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
32,569 |
|
|
|
25,946 |
|
||
|
Subtotal: Communications & Networking (3.49%)* |
|
|
|
|
|
|
|
|
|
|
|
|
32,569 |
|
|
|
25,946 |
|
||
|
Consumer & Business Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Antenna79 (p.k.a. Pong Research Corporation) (11)(13) |
|
Consumer & Business Products |
|
Senior Secured |
|
June 2016 |
|
Interest rate PRIME + 7.75% or Floor rate of 11.00% |
|
$ |
1,033 |
|
|
|
1,033 |
|
|
|
1,033 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
1,033 |
|
|
|
1,033 |
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Antenna79 (p.k.a. Pong Research Corporation) (11)(12)(13)(16) |
|
Consumer & Business Products |
|
Senior Secured |
|
December 2017 |
|
Interest rate PRIME + 6.75% or Floor rate of 10.00%, PIK Interest 2.50%, 5.65% Exit Fee |
|
$ |
4,892 |
|
|
|
4,870 |
|
|
|
4,967 |
|
|
Fluc, Inc. (8) |
|
Consumer & Business Products |
|
Convertible Debt |
|
March 2017 |
|
Interest rate FIXED 4.00% |
|
$ |
100 |
|
|
|
100 |
|
|
|
— |
|
|
IronPlanet, Inc. (12) |
|
Consumer & Business Products |
|
Senior Secured |
|
November 2017 |
|
Interest rate PRIME + 6.20% or Floor rate of 9.45%, 9.45% Exit Fee |
|
$ |
37,500 |
|
|
|
37,508 |
|
|
|
37,306 |
|
|
The Neat Company(11)(12)(13) |
|
Consumer & Business Products |
|
Senior Secured |
|
September 2017 |
|
Interest rate PRIME + 7.75% or Floor rate of 11.00%, PIK Interest 1.00%, 3.00% Exit Fee |
|
$ |
18,414 |
|
|
|
18,079 |
|
|
|
18,079 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
60,557 |
|
|
|
60,352 |
|
||
|
Subtotal: Consumer & Business Products (8.25%)* |
|
|
|
|
|
|
|
|
|
|
|
|
61,590 |
|
|
|
61,385 |
|
||
|
Drug Delivery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
AcelRx Pharmaceuticals, Inc. (9)(10)(12)(13) |
|
Drug Delivery |
|
Senior Secured |
|
October 2017 |
|
Interest rate PRIME + 3.85% or Floor rate of 9.10%, 4.25% Exit Fee |
|
$ |
22,760 |
|
|
|
22,964 |
|
|
|
23,124 |
|
|
Agile Therapeutics, Inc (10)(12) |
|
Drug Delivery |
|
Senior Secured |
|
December 2018 |
|
Interest rate PRIME + 5.75% or Floor rate of 9.00%, 3.70% Exit Fee |
|
$ |
16,500 |
|
|
|
16,009 |
|
|
|
16,009 |
|
|
BIND Therapeutics, Inc. (12)(13) |
|
Drug Delivery |
|
Senior Secured |
|
July 2018 |
|
Interest rate PRIME + 5.10% or Floor rate of 8.35%, 6.11% Exit Fee |
|
$ |
15,000 |
|
|
|
14,893 |
|
|
|
14,944 |
|
|
BioQuiddity Incorporated (10)(12) |
|
Drug Delivery |
|
Senior Secured |
|
May 2018 |
|
Interest rate PRIME + 8.00% or Floor rate of 11.25%, 6.00% Exit Fee |
|
$ |
10,000 |
|
|
|
10,024 |
|
|
|
10,094 |
|
|
Celator Pharmaceuticals, Inc. (10)(12) |
|
Drug Delivery |
|
Senior Secured |
|
June 2018 |
|
Interest rate PRIME + 6.50% or Floor rate of 9.75%, 3.95% Exit Fee |
|
$ |
15,000 |
|
|
|
14,909 |
|
|
|
14,945 |
|
|
Celsion Corporation (10)(12) |
|
Drug Delivery |
|
Senior Secured |
|
June 2017 |
|
Interest rate PRIME + 8.00% or Floor rate of 11.25%, 3.50% Exit Fee |
|
$ |
8,223 |
|
|
|
8,257 |
|
|
|
8,376 |
|
|
Dance Biopharm, Inc. (12)(13) |
|
Drug Delivery |
|
Senior Secured |
|
November 2017 |
|
Interest rate PRIME + 7.40% or Floor rate of 10.65%, 4.00% Exit Fee |
|
$ |
3,321 |
|
|
|
3,342 |
|
|
|
3,349 |
|
|
Edge Therapeutics, Inc. (10)(12) |
|
Drug Delivery |
|
Senior Secured |
|
March 2018 |
|
Interest rate PRIME + 5.95% or Floor rate of 9.95%, 1.50% Exit Fee |
|
$ |
6,000 |
|
|
|
5,920 |
|
|
|
5,844 |
|
|
Egalet Corporation (12) |
|
Drug Delivery |
|
Senior Secured |
|
July 2018 |
|
Interest rate PRIME + 6.15% or Floor rate of 9.40%, 3.85% Exit Fee |
|
$ |
15,000 |
|
|
|
14,853 |
|
|
|
15,040 |
|
|
Neos Therapeutics, Inc. (12)(13) |
|
Drug Delivery |
|
Senior Secured |
|
October 2017 |
|
Interest rate PRIME + 5.75% or Floor rate of 9.00%, 4.25% Exit Fee |
|
$ |
5,000 |
|
|
|
4,898 |
|
|
|
4,948 |
|
|
|
|
Drug Delivery |
|
Senior Secured |
|
October 2017 |
|
Interest rate PRIME + 7.25% or Floor rate of 10.50%, 4.25% Exit Fee |
|
$ |
10,000 |
|
|
|
9,914 |
|
|
|
10,014 |
|
|
|
|
Drug Delivery |
|
Senior Secured |
|
October 2017 |
|
Interest rate FIXED 9.00%, 2.13% Exit Fee |
|
$ |
10,000 |
|
|
|
10,000 |
|
|
|
9,927 |
|
|
Total Neos Therapeutics, Inc. |
|
|
|
|
|
|
|
$ |
25,000 |
|
|
|
24,812 |
|
|
|
24,889 |
|
||
|
Pulmatrix Inc. (8)(12) |
|
Drug Delivery |
|
Senior Secured |
|
July 2018 |
|
Interest rate PRIME + 6.25% or Floor rate of 9.50%, 3.50% Exit Fee |
|
$ |
7,000 |
|
|
|
6,786 |
|
|
|
6,786 |
|
|
ZP Opco, Inc (pka Zosano Pharma) (10)(12) |
|
Drug Delivery |
|
Senior Secured |
|
December 2018 |
|
Interest rate PRIME + 4.70% or Floor rate of 7.95%, 2.87% Exit Fee |
|
$ |
15,000 |
|
|
|
14,789 |
|
|
|
14,898 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
157,558 |
|
|
|
158,298 |
|
||
|
Subtotal: Drug Delivery (21.29%)* |
|
|
|
|
|
|
|
|
|
|
|
|
157,558 |
|
|
|
158,298 |
|
||
See notes to consolidated financial statements.
8
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Maturity Date |
|
Interest Rate and Floor |
|
Principal Amount |
|
|
Cost (2) |
|
|
Value (3) |
|
|||
|
Drug Discovery & Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Aveo Pharmaceuticals, Inc. (9)(13) |
|
Drug Discovery & Development |
|
Senior Secured |
|
December 2015 |
|
Interest rate PRIME + 7.15% or Floor rate of 11.90% |
|
$ |
6,018 |
|
|
$ |
6,018 |
|
|
$ |
6,018 |
|
|
Concert Pharmaceuticals, Inc. (10) |
|
Drug Discovery & Development |
|
Senior Secured |
|
October 2015 |
|
Interest rate PRIME + 3.25% or Floor rate of 8.50% |
|
$ |
2,954 |
|
|
|
2,950 |
|
|
|
2,950 |
|
|
Insmed, Incorporated (10)(12) |
|
Drug Discovery & Development |
|
Senior Secured |
|
January 2016 |
|
Interest rate PRIME + 4.75% or Floor rate of 9.25%, 1.95% Exit Fee |
|
$ |
25,000 |
|
|
|
25,097 |
|
|
|
25,097 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
34,065 |
|
|
|
34,065 |
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Aveo Pharmaceuticals, Inc. (9)(12)(13) |
|
Drug Discovery & Development |
|
Senior Secured |
|
January 2018 |
|
Interest rate PRIME + 6.65% or Floor rate of 11.90%, 5.40% Exit Fee |
|
$ |
10,000 |
|
|
|
9,930 |
|
|
|
9,975 |
|
|
Celladon Corporation (12)(13) |
|
Drug Discovery & Development |
|
Senior Secured |
|
February 2018 |
|
Interest rate PRIME + 5.00% or Floor rate of 8.25%, 7.00% Exit Fee |
|
$ |
10,000 |
|
|
|
10,193 |
|
|
|
10,193 |
|
|
Cempra, Inc. (10)(12) |
|
Drug Discovery & Development |
|
Senior Secured |
|
April 2018 |
|
Interest rate PRIME + 6.30% or Floor rate of 9.55%, 2.00% Exit Fee |
|
$ |
17,557 |
|
|
|
17,630 |
|
|
|
17,630 |
|
|
Cerecor Inc. (12) |
|
Drug Discovery & Development |
|
Senior Secured |
|
August 2017 |
|
Interest rate PRIME + 4.70% or Floor rate of 7.95%, 2.50% Exit Fee |
|
$ |
7,247 |
|
|
|
7,196 |
|
|
|
7,181 |
|
|
Cerulean Pharma Inc. (12) |
|
Drug Discovery & Development |
|
Senior Secured |
|
July 2018 |
|
Interest rate PRIME + 4.05% or Floor rate of 7.30%, 6.70% Exit Fee |
|
$ |
15,000 |
|
|
|
14,860 |
|
|
|
14,860 |
|
|
Cleveland BioLabs, Inc. (12)(13) |
|
Drug Discovery & Development |
|
Senior Secured |
|
January 2017 |
|
Interest rate LIBOR + 6.20% or Floor rate of 10.45%, 5.50% Exit Fee |
|
$ |
1,518 |
|
|
|
1,783 |
|
|
|
1,761 |
|
|
CTI BioPharma Corp. (p.k.a. Cell Therapeutics, Inc.) (10)(12) |
|
Drug Discovery & Development |
|
Senior Secured |
|
December 2018 |
|
Interest rate PRIME + 7.70% or Floor rate of 10.95%, 8.50% Exit Fee |
|
$ |
20,000 |
|
|
|
20,588 |
|
|
|
20,603 |
|
|
Dynavax Technologies (9)(12) |
|
Drug Discovery & Development |
|
Senior Secured |
|
July 2018 |
|
Interest rate PRIME + 6.50% or Floor rate of 9.75%, 8.40% Exit Fee |
|
$ |
10,000 |
|
|
|
10,074 |
|
|
|
10,115 |
|
|
Epirus Biopharmaceuticals, Inc. (12) |
|
Drug Discovery & Development |
|
Senior Secured |
|
April 2018 |
|
Interest rate PRIME + 4.70% or Floor rate of 7.95%, 3.00% Exit Fee |
|
$ |
15,000 |
|
|
|
14,672 |
|
|
|
14,896 |
|
|
Genocea Biosciences, Inc. (10)(12) |
|
Drug Discovery & Development |
|
Senior Secured |
|
January 2019 |
|
Interest rate PRIME + 4.00% or Floor rate of 7.25%, 4.95% Exit Fee |
|
$ |
12,000 |
|
|
|
11,970 |
|
|
|
11,888 |
|
|
Melinta Therapeutics (12) |
|
Drug Discovery & Development |
|
Senior Secured |
|
June 2018 |
|
Interest rate PRIME + 5.00% or Floor rate of 8.25%, 3.50% Exit Fee |
|
$ |
20,000 |
|
|
|
19,592 |
|
|
|
19,729 |
|
|
Merrimack Pharmaceuticals, Inc. (12) |
|
Drug Discovery & Development |
|
Senior Secured |
|
November 2018 |
|
Interest rate PRIME + 7.30% or Floor rate of 10.55%, 3.00% Exit Fee |
|
$ |
40,000 |
|
|
|
40,569 |
|
|
|
40,569 |
|
|
Neothetics, Inc. (p.k.a. Lithera, Inc) (12)(13) |
|
Drug Discovery & Development |
|
Senior Secured |
|
January 2018 |
|
Interest rate PRIME + 5.75% or Floor rate of 9.00%, 3.00% Exit Fee |
|
$ |
10,000 |
|
|
|
9,857 |
|
|
|
9,865 |
|
|
Neuralstem, Inc. (12)(13) |
|
Drug Discovery & Development |
|
Senior Secured |
|
April 2017 |
|
Interest rate PRIME + 6.75% or Floor rate of 10.00%, 6.00% Exit Fee |
|
$ |
9,489 |
|
|
|
9,448 |
|
|
|
9,605 |
|
|
uniQure B.V. (4)(9)(10)(12) |
|
Drug Discovery & Development |
|
Senior Secured |
|
June 2018 |
|
Interest rate PRIME + 5.00% or Floor rate of 10.25%, 2.98% Exit Fee |
|
$ |
20,000 |
|
|
|
19,905 |
|
|
|
19,984 |
|
|
XOMA Corporation (9)(12)(13) |
|
Drug Discovery & Development |
|
Senior Secured |
|
September 2018 |
|
Interest rate PRIME + 6.15% or Floor rate of 9.40%, 5.75% Exit Fee |
|
$ |
20,000 |
|
|
|
19,676 |
|
|
|
19,676 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
237,943 |
|
|
|
238,530 |
|
||
|
Subtotal: Drug Discovery & Development (36.65%)* |
|
|
|
|
|
|
|
|
|
|
|
|
272,008 |
|
|
|
272,595 |
|
||
|
Electronics & Computer Hardware |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Plures Technologies, Inc. (7)(11) |
|
Electronics & Computer Hardware |
|
Senior Secured |
|
October 2016 |
|
Interest rate LIBOR + 8.75% or Floor rate of 12.00%, PIK Interest 4.00% |
|
$ |
267 |
|
|
|
180 |
|
|
|
— |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
180 |
|
|
|
— |
|
||
|
Subtotal: Electronics & Computer Hardware (0.00%)* |
|
|
|
|
|
|
|
|
|
|
|
|
180 |
|
|
|
— |
|
||
See notes to consolidated financial statements.
9
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Maturity Date |
|
Interest Rate and Floor |
|
Principal Amount |
|
|
Cost (2) |
|
|
Value (3) |
|
|||
|
Energy Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Fluidic, Inc. (10)(12) |
|
Energy Technology |
|
Senior Secured |
|
March 2016 |
|
Interest rate PRIME + 8.00% or Floor rate of 11.25%, 3.00% Exit Fee |
|
$ |
2,270 |
|
|
$ |
2,392 |
|
|
$ |
2,392 |
|
|
Polyera Corporation (12)(13) |
|
Energy Technology |
|
Senior Secured |
|
June 2016 |
|
Interest rate PRIME + 6.75% or Floor rate of 10.00%, 4.25% Exit Fee |
|
$ |
2,492 |
|
|
|
2,706 |
|
|
|
2,706 |
|
|
Stion Corporation (5)(12) |
|
Energy Technology |
|
Senior Secured |
|
March 2016 |
|
Interest rate PRIME + 8.75% or Floor rate of 12.00%, 3.00% Exit Fee |
|
$ |
3,055 |
|
|
|
3,055 |
|
|
|
1,600 |
|
|
Sungevity Development, LLC |
|
Energy Technology |
|
Senior Secured |
|
April 2016 |
|
Interest rate PRIME + 3.70% or Floor rate 6.95% |
|
$ |
17,214 |
|
|
|
17,214 |
|
|
|
17,214 |
|
|
TAS Energy, Inc. (10)(12) |
|
Energy Technology |
|
Senior Secured |
|
December 2015 |
|
Interest rate PRIME + 7.75% or Floor rate of 11.00%, 1.67% Exit Fee |
|
$ |
4,153 |
|
|
|
4,344 |
|
|
|
4,344 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
29,711 |
|
|
|
28,256 |
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Agrivida, Inc. (12)(13) |
|
Energy Technology |
|
Senior Secured |
|
December 2016 |
|
Interest rate PRIME + 6.75% or Floor rate of 10.00%, 5.00% Exit Fee |
|
$ |
4,362 |
|
|
|
4,549 |
|
|
|
4,497 |
|
|
American Superconductor Corporation (10)(12) |
|
Energy Technology |
|
Senior Secured |
|
November 2016 |
|
Interest rate PRIME + 7.25% or Floor rate of 11.00%, 5.00% Exit Fee |
|
$ |
5,667 |
|
|
|
6,020 |
|
|
|
5,965 |
|
|
|
|
Energy Technology |
|
Senior Secured |
|
June 2017 |
|
Interest rate PRIME + 7.75% or Floor rate of 11.00%, 5.00% Exit Fee |
|
$ |
1,500 |
|
|
|
1,472 |
|
|
|
1,476 |
|
|
Total American Superconductor Corporation |
|
|
|
|
|
|
|
$ |
7,167 |
|
|
|
7,492 |
|
|
|
7,441 |
|
||
|
Amyris, Inc. (9)(12) |
|
Energy Technology |
|
Senior Secured |
|
February 2017 |
|
Interest rate PRIME + 6.25% or Floor rate of 9.50%, 10.00% Exit Fee |
|
$ |
22,909 |
|
|
|
22,909 |
|
|
|
23,138 |
|
|
|
|
Energy Technology |
|
Senior Secured |
|
February 2017 |
|
Interest rate PRIME + 5.25% or Floor rate of 8.50%, 10.00% Exit Fee |
|
$ |
4,578 |
|
|
|
4,578 |
|
|
|
4,624 |
|
|
Total Amyris, Inc. |
|
|
|
|
|
|
|
$ |
27,487 |
|
|
|
27,487 |
|
|
|
27,762 |
|
||
|
Modumetal, Inc. (12) |
|
Energy Technology |
|
Senior Secured |
|
March 2017 |
|
Interest rate PRIME + 11.20% or Floor rate of 14.45%, 8.82% Exit Fee |
|
$ |
2,412 |
|
|
|
2,534 |
|
|
|
2,606 |
|
|
Polyera Corporation (12)(13) |
|
Energy Technology |
|
Senior Secured |
|
April 2018 |
|
Interest rate PRIME + 6.70% or Floor rate of 9.95%, 3.45% Exit Fee |
|
$ |
3,000 |
|
|
|
2,933 |
|
|
|
2,933 |
|
|
Proterra, Inc. (12) |
|
Energy Technology |
|
Senior Secured |
|
June 2018 |
|
Interest rate PRIME + 6.95% or Floor rate of 10.20%, 5.95% Exit Fee |
|
$ |
20,000 |
|
|
|
19,788 |
|
|
|
19,788 |
|
|
Sungevity Development, LLC (12) |
|
Energy Technology |
|
Senior Secured |
|
October 2017 |
|
Interest rate PRIME + 3.70% or Floor rate 6.95%, 9.95% Exit Fee |
|
$ |
25,000 |
|
|
|
24,397 |
|
|
|
24,820 |
|
|
Tendril Networks (12) |
|
Energy Technology |
|
Senior Secured |
|
June 2019 |
|
Interest rate FIXED 7.25%, 10.45% Exit Fee |
|
$ |
10,000 |
|
|
|
9,671 |
|
|
|
9,671 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
98,851 |
|
|
|
99,518 |
|
||
|
Subtotal: Energy Technology (17.18%)* |
|
|
|
|
|
|
|
|
|
|
|
|
128,562 |
|
|
|
127,774 |
|
||
|
Healthcare Services, Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Chromadex Corporation (12)(13) |
|
Healthcare Services, Other |
|
Senior Secured |
|
April 2018 |
|
Interest rate PRIME + 6.10% or Floor rate of 9.35%, 3.75% Exit Fee |
|
$ |
5,000 |
|
|
|
4,820 |
|
|
|
4,877 |
|
|
InstaMed Communications, LLC (12)(13) |
|
Healthcare Services, Other |
|
Senior Secured |
|
March 2018 |
|
Interest rate PRIME + 6.75% or Floor rate of 10.00%, 7.62% Exit Fee |
|
$ |
5,000 |
|
|
|
5,081 |
|
|
|
5,071 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
9,901 |
|
|
|
9,948 |
|
||
|
Subtotal: Healthcare Services, Other (1.34%)* |
|
|
|
|
|
|
|
|
|
|
|
|
9,901 |
|
|
|
9,948 |
|
||
|
Information Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Eccentex Corporation (12)(15) |
|
Information Services |
|
Senior Secured |
|
May 2015 |
|
Interest rate PRIME + 7.00% or Floor rate of 10.25%, 1.50% Exit Fee |
|
$ |
13 |
|
|
|
28 |
|
|
|
28 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
28 |
|
|
|
28 |
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
INMOBI Inc. (4)(9)(11)(12) |
|
Information Services |
|
Senior Secured |
|
December 2016 |
|
Interest rate PRIME + 7.00% or Floor rate of 10.25% |
|
$ |
14,612 |
|
|
|
14,612 |
|
|
|
14,612 |
|
|
|
|
Information Services |
|
Senior Secured |
|
December 2017 |
|
Interest rate PRIME + 5.75% or Floor rate of 9.00%, PIK Interest 2.50%, 4.00% Exit Fee |
|
$ |
15,203 |
|
|
|
15,196 |
|
|
|
15,225 |
|
|
Total INMOBI Inc. |
|
|
|
|
|
|
|
$ |
29,815 |
|
|
|
29,808 |
|
|
|
29,837 |
|
||
|
InXpo, Inc. (12)(13) |
|
Information Services |
|
Senior Secured |
|
October 2016 |
|
Interest rate PRIME + 7.50% or Floor rate of 10.75%, 3.00% Exit Fee |
|
$ |
1,713 |
|
|
|
1,736 |
|
|
|
1,740 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
31,544 |
|
|
|
31,577 |
|
||
|
Subtotal: Information Services (4.25%)* |
|
|
|
|
|
|
|
|
|
|
|
|
31,572 |
|
|
|
31,605 |
|
||
See notes to consolidated financial statements.
10
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Maturity Date |
|
Interest Rate and Floor |
|
Principal Amount |
|
|
Cost (2) |
|
|
Value (3) |
|
|||
|
Internet Consumer & Business Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Education Dynamics, LLC (11)(13) |
|
Internet Consumer & Business Services |
|
Senior Secured |
|
March 2016 |
|
Interest rate LIBOR + 12.50% or Floor rate of 12.50%, PIK Interest 1.50% |
|
$ |
20,719 |
|
|
$ |
20,709 |
|
|
$ |
20,709 |
|
|
Gazelle, Inc.(11) |
|
Internet Consumer & Business Services |
|
Senior Secured |
|
December 2015 |
|
Interest rate PRIME + 6.50% or Floor rate of 9.75% |
|
$ |
437 |
|
|
|
437 |
|
|
|
437 |
|
|
NetPlenish (7)(8)(13) |
|
Internet Consumer & Business Services |
|
Convertible Debt |
|
April 2016 |
|
Interest rate FIXED 10.00% |
|
$ |
429 |
|
|
|
421 |
|
|
|
— |
|
|
Tectura Corporation (7)(11)(14) |
|
Internet Consumer & Business Services |
|
Senior Secured |
|
May 2014 |
|
Interest rate LIBOR + 8.00% or Floor rate of 11.00%, PIK Interest 1.00% |
|
$ |
8,770 |
|
|
|
8,770 |
|
|
|
3,881 |
|
|
|
|
Internet Consumer & Business Services |
|
Senior Secured |
|
May 2014 |
|
Interest rate LIBOR + 10.00% or Floor rate of 13.00% |
|
$ |
563 |
|
|
|
563 |
|
|
|
249 |
|
|
|
|
Internet Consumer & Business Services |
|
Senior Secured |
|
May 2014 |
|
Interest rate LIBOR + 10.00% or Floor rate of 13.00% |
|
$ |
5,000 |
|
|
|
5,000 |
|
|
|
2,212 |
|
|
|
|
Internet Consumer & Business Services |
|
Senior Secured |
|
May 2014 |
|
Interest rate LIBOR + 10.00% or Floor rate of 13.00% |
|
$ |
6,468 |
|
|
|
6,468 |
|
|
|
2,862 |
|
|
Total Tectura Corporation |
|
|
|
|
|
|
|
$ |
20,801 |
|
|
|
20,801 |
|
|
|
9,204 |
|
||
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
42,368 |
|
|
|
30,350 |
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Aria Systems, Inc. (11) |
|
Internet Consumer & Business Services |
|
Senior Secured |
|
June 2019 |
|
Interest rate PRIME + 3.20% or Floor rate of 6.95%, PIK Interest 1.95% |
|
$ |
2,001 |
|
|
|
1,971 |
|
|
|
1,971 |
|
|
|
|
Internet Consumer & Business Services |
|
Senior Secured |
|
June 2019 |
|
Interest rate PRIME + 5.20% or Floor rate of 8.95%, PIK Interest 1.95% |
|
$ |
8,004 |
|
|
|
7,882 |
|
|
|
7,882 |
|
|
Total Aria Systems, Inc. |
|
|
|
|
|
|
|
$ |
10,005 |
|
|
|
9,853 |
|
|
|
9,853 |
|
||
|
Gazelle, Inc. (11) |
|
Internet Consumer & Business Services |
|
Senior Secured |
|
July 2017 |
|
Interest rate PRIME + 7.00% or Floor rate of 10.25%, PIK Interest 2.50% |
|
$ |
13,736 |
|
|
|
13,604 |
|
|
|
13,639 |
|
|
Just Fabulous, Inc. (10)(12) |
|
Internet Consumer & Business Services |
|
Senior Secured |
|
February 2017 |
|
Interest rate PRIME + 8.25% or Floor rate of 11.50%, 3.00% Exit Fee |
|
$ |
15,000 |
|
|
|
14,817 |
|
|
|
14,817 |
|
|
Lightspeed POS, Inc. (4)(9)(10) |
|
Internet Consumer & Business Services |
|
Senior Secured |
|
May 2018 |
|
Interest rate PRIME + 3.25% or Floor rate of 6.50% |
|
$ |
5,000 |
|
|
|
4,972 |
|
|
|
4,998 |
|
|
ReachLocal (12) |
|
Internet Consumer & Business Services |
|
Senior Secured |
|
April 2018 |
|
Interest rate PRIME + 8.50% or Floor rate of 11.75%, 5.90% Exit Fee |
|
$ |
25,000 |
|
|
|
24,687 |
|
|
|
24,687 |
|
|
Reply! Inc. (7)(11) |
|
Internet Consumer & Business Services |
|
Senior Secured |
|
March 2019 |
|
Interest rate PRIME + 4.25% or Floor rate of 7.50% |
|
$ |
6,240 |
|
|
|
5,872 |
|
|
|
3,308 |
|
|
|
|
Internet Consumer & Business Services |
|
Senior Secured |
|
March 2019 |
|
PIK Interest 2.00% |
|
$ |
5,964 |
|
|
|
5,964 |
|
|
|
3,360 |
|
|
Total Reply! Inc. |
|
|
|
|
|
|
|
$ |
12,204 |
|
|
|
11,836 |
|
|
|
6,668 |
|
||
|
Tapjoy, Inc. (12) |
|
Internet Consumer & Business Services |
|
Senior Secured |
|
July 2018 |
|
Interest rate PRIME + 6.50% or Floor rate of 9.75%, 0.50% Exit Fee |
|
$ |
20,000 |
|
|
|
19,571 |
|
|
|
19,553 |
|
|
WaveMarket, Inc. (12) |
|
Internet Consumer & Business Services |
|
Senior Secured |
|
March 2017 |
|
Interest rate PRIME + 6.50% or Floor rate of 9.75%, 1.00% Exit Fee |
|
$ |
236 |
|
|
|
238 |
|
|
|
242 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
99,578 |
|
|
|
94,457 |
|
||
|
Subtotal: Internet Consumer & Business Services (16.78%)* |
|
|
|
|
|
|
|
|
|
|
|
|
141,946 |
|
|
|
124,807 |
|
||
|
Media/Content/Info |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Zoom Media Group, Inc. (10)(11) |
|
Media/Content/Info |
|
Senior Secured |
|
December 2015 |
|
Interest rate PRIME + 7.25% or Floor rate of 10.50%, PIK Interest 3.75% |
|
$ |
1,521 |
|
|
|
1,508 |
|
|
|
1,508 |
|
|
|
|
Media/Content/Info |
|
Senior Secured |
|
December 2015 |
|
Interest rate PRIME + 5.25% or Floor rate of 8.50% |
|
$ |
5,060 |
|
|
|
5,060 |
|
|
|
5,060 |
|
|
Total Zoom Media Group, Inc. |
|
|
|
|
|
|
|
$ |
6,581 |
|
|
|
6,568 |
|
|
|
6,568 |
|
||
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
6,568 |
|
|
|
6,568 |
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Machine Zone, Inc. (11) |
|
Media/Content/Info |
|
Senior Secured |
|
May 2018 |
|
Interest rate PRIME + 3.50% or Floor rate of 6.75%, PIK Interest 3.00% |
|
$ |
30,018 |
|
|
|
29,287 |
|
|
|
29,287 |
|
|
Rhapsody International, Inc. (10)(11)(13) |
|
Media/Content/Info |
|
Senior Secured |
|
April 2018 |
|
Interest rate PRIME + 5.25% or Floor rate of 9.00%, PIK interest 1.50% |
|
$ |
19,392 |
|
|
|
19,050 |
|
|
|
19,052 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
48,337 |
|
|
|
48,339 |
|
||
|
Subtotal: Media/Content/Info (7.38%)* |
|
|
|
|
|
|
|
|
|
|
|
|
54,905 |
|
|
|
54,907 |
|
||
See notes to consolidated financial statements.
11
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Maturity Date |
|
Interest Rate and Floor |
|
Principal Amount |
|
|
Cost (2) |
|
|
Value (3) |
|
|||
|
Medical Devices & Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Medrobotics Corporation (12)(13) |
|
Medical Devices & Equipment |
|
Senior Secured |
|
March 2016 |
|
Interest rate PRIME + 7.85% or Floor rate of 11.10%, 3.25% Exit Fee |
|
$ |
1,657 |
|
|
$ |
1,791 |
|
|
$ |
1,791 |
|
|
SonaCare Medical, LLC (p.k.a. US HIFU, LLC) (12) |
|
Medical Devices & Equipment |
|
Senior Secured |
|
April 2016 |
|
Interest rate PRIME + 7.75% or Floor rate of 11.00%, 6.80% Exit Fee |
|
$ |
729 |
|
|
|
1,113 |
|
|
|
1,113 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
2,904 |
|
|
|
2,904 |
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Amedica Corporation (8)(12)(13) |
|
Medical Devices & Equipment |
|
Senior Secured |
|
January 2018 |
|
Interest rate PRIME + 7.70% or Floor rate of 10.95%, 7.25% Exit Fee |
|
$ |
20,000 |
|
|
|
20,131 |
|
|
|
17,015 |
|
|
Aspire Bariatrics, Inc. (12)(13) |
|
Medical Devices & Equipment |
|
Senior Secured |
|
April 2018 |
|
Interest rate PRIME + 6.00% or Floor rate of 9.25%, 8.04% Exit Fee |
|
$ |
4,000 |
|
|
|
3,675 |
|
|
|
3,675 |
|
|
Avedro, Inc. (12)(13) |
|
Medical Devices & Equipment |
|
Senior Secured |
|
June 2018 |
|
Interest rate PRIME + 6.00% or Floor rate of 9.25%, 3.50% Exit Fee |
|
$ |
12,500 |
|
|
|
12,190 |
|
|
|
12,030 |
|
|
Flowonix Medical Incorporated (12) |
|
Medical Devices & Equipment |
|
Senior Secured |
|
May 2018 |
|
Interest rate PRIME + 5.25% or Floor rate of 10.00%, 5.00% Exit Fee |
|
$ |
15,000 |
|
|
|
14,865 |
|
|
|
14,936 |
|
|
Gamma Medica, Inc. (10)(12) |
|
Medical Devices & Equipment |
|
Senior Secured |
|
January 2018 |
|
Interest rate PRIME + 6.50% or Floor rate of 9.75%, 6.00% Exit Fee |
|
$ |
4,000 |
|
|
|
3,942 |
|
|
|
3,944 |
|
|
InspireMD, Inc. (4)(9)(12) |
|
Medical Devices & Equipment |
|
Senior Secured |
|
February 2017 |
|
Interest rate PRIME + 7.25% or Floor rate of 10.50%, 5.00% Exit Fee |
|
$ |
6,963 |
|
|
|
7,205 |
|
|
|
7,150 |
|
|
nContact Surgical, Inc (12)(13) |
|
Medical Devices & Equipment |
|
Senior Secured |
|
November 2018 |
|
Interest rate PRIME + 9.25% or Floor rate of 9.25%, 3.95% Exit Fee |
|
$ |
10,000 |
|
|
|
9,833 |
|
|
|
9,845 |
|
|
Quanterix Corporation (10)(12) |
|
Medical Devices & Equipment |
|
Senior Secured |
|
February 2018 |
|
Interest rate PRIME + 2.75% or Floor rate of 8.00%, 4.00% Exit Fee |
|
$ |
10,000 |
|
|
|
9,903 |
|
|
|
9,963 |
|
|
SynergEyes, Inc. (12)(13) |
|
Medical Devices & Equipment |
|
Senior Secured |
|
January 2018 |
|
Interest rate PRIME + 7.75% or Floor rate of 11.00%, 4.80% Exit Fee |
|
$ |
5,000 |
|
|
|
5,143 |
|
|
|
5,118 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
86,887 |
|
|
|
83,676 |
|
||
|
Subtotal: Medical Devices & Equipment (11.64%)* |
|
|
|
|
|
|
|
|
|
|
|
|
89,791 |
|
|
|
86,580 |
|
||
|
Semiconductors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Achronix Semiconductor Corporation (12)(13) |
|
Semiconductors |
|
Senior Secured |
|
July 2018 |
|
Interest rate PRIME + 8.25% or Floor rate of 11.50%, 6.50% Exit Fee |
|
$ |
5,000 |
|
|
|
4,929 |
|
|
|
4,929 |
|
|
Avnera Corporation (10)(12) |
|
Semiconductors |
|
Senior Secured |
|
April 2018 |
|
Interest rate PRIME + 5.25% or Floor rate of 8.50%, 3.50% Exit Fee |
|
$ |
7,500 |
|
|
|
7,442 |
|
|
|
7,535 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
12,371 |
|
|
|
12,464 |
|
||
|
Subtotal: Semiconductors (1.68%)* |
|
|
|
|
|
|
|
|
|
|
|
|
12,371 |
|
|
|
12,464 |
|
||
See notes to consolidated financial statements.
12
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Maturity Date |
|
Interest Rate and Floor |
|
Principal Amount |
|
|
Cost (2) |
|
|
Value (3) |
|
|||
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
CareCloud Corporation (13) |
|
Software |
|
Senior Secured |
|
July 2015 |
|
Interest rate PRIME + 1.40% or Floor rate of 4.65% |
|
$ |
3,000 |
|
|
$ |
3,000 |
|
|
$ |
3,000 |
|
|
Clickfox, Inc. (12)(13) |
|
Software |
|
Senior Secured |
|
August 2015 |
|
Interest rate PRIME + 8.75% or Floor rate of 12.00%, 5.00% Exit Fee |
|
$ |
3,000 |
|
|
|
3,108 |
|
|
|
3,108 |
|
|
|
|
Software |
|
Senior Secured |
|
July 2015 |
|
Interest rate PRIME + 6.75% or Floor rate of 10.00% |
|
$ |
2,000 |
|
|
|
2,000 |
|
|
|
2,000 |
|
|
Total Clickfox, Inc. |
|
|
|
|
|
|
|
$ |
5,000 |
|
|
|
5,108 |
|
|
|
5,108 |
|
||
|
Mobile Posse, Inc.(13) |
|
Software |
|
Senior Secured |
|
June 2016 |
|
Interest rate PRIME + 2.00% or Floor rate of 5.25% |
|
$ |
1,000 |
|
|
|
1,000 |
|
|
|
1,000 |
|
|
Neos Geosolutions, Inc. (12)(13) |
|
Software |
|
Senior Secured |
|
May 2016 |
|
Interest rate PRIME + 5.75% or Floor rate of 10.50%, 4.25% Exit Fee |
|
$ |
1,552 |
|
|
|
1,701 |
|
|
|
1,701 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
10,809 |
|
|
|
10,809 |
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
CareCloud Corporation (12)(13) |
|
Software |
|
Senior Secured |
|
July 2017 |
|
Interest rate PRIME + 5.50% or Floor rate of 8.75%, 12.00% Exit Fee |
|
$ |
3,000 |
|
|
|
2,966 |
|
|
|
2,947 |
|
|
|
|
Software |
|
Senior Secured |
|
July 2017 |
|
Interest rate PRIME + 5.50% or Floor rate of 8.75%, 2.95% Exit Fee |
|
$ |
10,000 |
|
|
|
9,934 |
|
|
|
9,932 |
|
|
|
|
Software |
|
Senior Secured |
|
January 2018 |
|
Interest rate PRIME + 1.70% or Floor rate of 4.95%, 2.95% Exit Fee |
|
$ |
3,000 |
|
|
|
2,971 |
|
|
|
2,949 |
|
|
|
|
Software |
|
Senior Secured |
|
December 2017 |
|
Interest rate PRIME + 3.25% or Floor rate of 6.50%, 12.00% Exit Fee |
|
$ |
202 |
|
|
|
206 |
|
|
|
204 |
|
|
Total Carecloud Corporation |
|
|
|
|
|
|
|
$ |
16,202 |
|
|
|
16,077 |
|
|
|
16,032 |
|
||
|
Clickfox, Inc. (12)(13) |
|
Software |
|
Senior Secured |
|
March 2018 |
|
Interest rate PRIME + 8.25% or Floor rate of 11.50%, 3.50% Exit Fee |
|
$ |
6,000 |
|
|
|
5,930 |
|
|
|
5,724 |
|
|
Druva, Inc. (12) |
|
Software |
|
Senior Secured |
|
March 2018 |
|
Interest rate PRIME + 4.60% or Floor rate of 7.85%, 6.50% Exit Fee |
|
$ |
9,000 |
|
|
|
8,961 |
|
|
|
8,961 |
|
|
JumpStart Games, Inc. (p.k.a. Knowledge Adventure, Inc.) (7)(11)(12)(13)(16) |
|
Software |
|
Senior Secured |
|
March 2018 |
|
Interest rate PRIME + 8.25% or Floor rate of 11.50%, PIK Interest 6.50%, 5.07% Exit Fee |
|
$ |
12,803 |
|
|
|
12,903 |
|
|
|
7,089 |
|
|
Message Systems, Inc. (13) |
|
Software |
|
Senior Secured |
|
February 2019 |
|
Interest rate PRIME + 7.25% or Floor rate of 10.50% |
|
$ |
17,500 |
|
|
|
17,030 |
|
|
|
17,030 |
|
|
|
|
Software |
|
Senior Secured |
|
February 2017 |
|
Interest rate PRIME + 2.75% or Floor rate of 6.00% |
|
$ |
1,618 |
|
|
|
1,618 |
|
|
|
1,618 |
|
|
Total Message Systems, Inc. |
|
|
|
|
|
|
|
$ |
19,118 |
|
|
|
18,648 |
|
|
|
18,648 |
|
||
|
Mobile Posse, Inc. (12)(13) |
|
Software |
|
Senior Secured |
|
December 2016 |
|
Interest rate PRIME + 7.50% or Floor rate of 10.75%, 2.00% Exit Fee |
|
$ |
2,273 |
|
|
|
2,310 |
|
|
|
2,333 |
|
|
RedSeal Inc. (12)(13) |
|
Software |
|
Senior Secured |
|
June 2018 |
|
Interest rate PRIME + 7.75% or Floor rate of 11.00%, 3.95% Exit Fee |
|
$ |
5,000 |
|
|
|
4,943 |
|
|
|
4,943 |
|
|
Soasta, Inc. (12)(13) |
|
Software |
|
Senior Secured |
|
February 2018 |
|
Interest rate PRIME + 2.25% or Floor rate of 5.50%, 0.81% Exit Fee |
|
$ |
3,500 |
|
|
|
3,391 |
|
|
|
3,391 |
|
|
|
|
Software |
|
Senior Secured |
|
February 2019 |
|
Interest rate PRIME + 4.75% or Floor rate of 8.00%, 0.81% Exit Fee |
|
$ |
15,000 |
|
|
|
14,527 |
|
|
|
14,527 |
|
|
Total Soasta, Inc. |
|
|
|
|
|
|
|
$ |
18,500 |
|
|
|
17,918 |
|
|
|
17,918 |
|
||
|
Sonian, Inc. (12)(13) |
|
Software |
|
Senior Secured |
|
July 2017 |
|
Interest rate PRIME + 7.00% or Floor rate of 10.25%, 2.00% Exit Fee |
|
$ |
4,548 |
|
|
|
4,551 |
|
|
|
4,552 |
|
|
StrongView Systems, Inc. (11)(12) |
|
Software |
|
Senior Secured |
|
December 2017 |
|
Interest rate PRIME + 6.00% or Floor rate of 9.25%, PIK Interest 3.00%, 3.00% Exit Fee |
|
$ |
10,152 |
|
|
|
9,982 |
|
|
|
9,982 |
|
|
Touchcommerce, Inc. (12)(13) |
|
Software |
|
Senior Secured |
|
February 2018 |
|
Interest rate PRIME + 6.00% or Floor Rate of 10.25%, 3.43% Exit Fee |
|
$ |
7,000 |
|
|
|
6,793 |
|
|
|
6,863 |
|
|
|
|
Software |
|
Senior Secured |
|
August 2016 |
|
Interest rate PRIME + 2.25% or Floor Rate of 6.50% |
|
$ |
4,811 |
|
|
|
4,811 |
|
|
|
4,732 |
|
|
Total Touchcommerce, Inc. |
|
|
|
|
|
|
|
$ |
11,811 |
|
|
|
11,604 |
|
|
|
11,595 |
|
||
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
113,827 |
|
|
|
107,777 |
|
||
|
Subtotal: Software (15.95%)* |
|
|
|
|
|
|
|
|
|
|
|
|
124,636 |
|
|
|
118,586 |
|
||
See notes to consolidated financial statements.
13
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Maturity Date |
|
Interest Rate and Floor |
|
Principal Amount |
|
|
Cost (2) |
|
|
Value (3) |
|
|||
|
Specialty Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Cranford Pharmaceuticals, LLC (10)(11)(13) |
|
Specialty Pharmaceuticals |
|
Senior Secured |
|
August 2015 |
|
Interest rate LIBOR + 8.25% or Floor rate of 9.50% |
|
$ |
1,100 |
|
|
$ |
1,100 |
|
|
$ |
1,100 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
1,100 |
|
|
|
1,100 |
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Alimera Sciences, Inc. (10) |
|
Specialty Pharmaceuticals |
|
Senior Secured |
|
May 2018 |
|
Interest rate PRIME + 7.65% or Floor rate of 10.90% |
|
$ |
35,000 |
|
|
|
34,316 |
|
|
|
33,959 |
|
|
Cranford Pharmaceuticals, LLC (10)(11)(12)(13) |
|
Specialty Pharmaceuticals |
|
Senior Secured |
|
February 2017 |
|
Interest rate LIBOR + 9.55% or Floor rate of 10.80%, PIK Interest 1.35%, 1.75% Exit Fee |
|
$ |
12,518 |
|
|
|
12,609 |
|
|
|
12,658 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
46,925 |
|
|
|
46,617 |
|
||
|
Subtotal: Specialty Pharmaceuticals (6.42%)* |
|
|
|
|
|
|
|
|
|
|
|
|
48,025 |
|
|
|
47,717 |
|
||
|
Surgical Devices |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Gynesonics, Inc. (13) |
|
Surgical Devices |
|
Convertible Debt |
|
December 2015 |
|
Interest rate FIXED 8.00% |
|
$ |
14 |
|
|
|
14 |
|
|
|
14 |
|
|
|
|
Surgical Devices |
|
Convertible Debt |
|
December 2015 |
|
Interest rate FIXED 8.00% |
|
$ |
51 |
|
|
|
51 |
|
|
|
51 |
|
|
Total Gynesonics, Inc. |
|
|
|
|
|
|
|
$ |
65 |
|
|
|
65 |
|
|
|
65 |
|
||
|
Transmedics, Inc. |
|
Surgical Devices |
|
Senior Secured |
|
November 2015 |
|
Interest rate FIXED 12.95% |
|
$ |
4,963 |
|
|
|
4,942 |
|
|
|
4,942 |
|
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
5,007 |
|
|
|
5,007 |
|
||
|
Subtotal: Surgical Devices (0.67%)* |
|
|
|
|
|
|
|
|
|
|
|
|
5,007 |
|
|
|
5,007 |
|
||
|
Total Debt Investments (152.97%)* |
|
|
|
|
|
|
|
|
|
|
|
|
1,170,621 |
|
|
|
1,137,619 |
|
||
See notes to consolidated financial statements.
14
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost(2) |
|
|
Value(3) |
|
|||
|
Equity Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Biotechnology Tools |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
NuGEN Technologies, Inc. (13) |
|
Biotechnology Tools |
|
Equity |
|
Preferred Series C |
|
|
189,394 |
|
|
$ |
500 |
|
|
$ |
529 |
|
|
Subtotal: Biotechnology Tools (0.07%)* |
|
|
|
|
|
|
|
|
|
|
500 |
|
|
|
529 |
|
||
|
Communications & Networking |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
GlowPoint, Inc. (3) |
|
Communications & Networking |
|
Equity |
|
Common Stock |
|
|
114,192 |
|
|
|
102 |
|
|
|
93 |
|
|
Peerless Network, Inc. |
|
Communications & Networking |
|
Equity |
|
Preferred Series A |
|
|
1,000,000 |
|
|
|
1,000 |
|
|
|
5,965 |
|
|
Subtotal: Communications & Networking (0.81%)* |
|
|
|
|
|
|
|
|
|
|
1,102 |
|
|
|
6,058 |
|
||
|
Consumer & Business Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Market Force Information, Inc. |
|
Consumer & Business Products |
|
Equity |
|
Preferred Series B-1 |
|
|
187,970 |
|
|
|
500 |
|
|
|
3 |
|
|
|
|
Consumer & Business Products |
|
Equity |
|
Common Stock |
|
|
480,261 |
|
|
|
— |
|
|
|
230 |
|
|
Total: Market Force Information, Inc. |
|
|
|
|
|
|
|
|
668,231 |
|
|
|
500 |
|
|
|
233 |
|
|
Subtotal: Consumer & Business Products (0.03%)* |
|
|
|
|
|
|
|
|
|
|
500 |
|
|
|
233 |
|
||
|
Diagnostic |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Singulex, Inc. |
|
Diagnostic |
|
Equity |
|
Common Stock |
|
|
937,998 |
|
|
|
750 |
|
|
|
209 |
|
|
Subtotal: Diagnostic (0.03%)* |
|
|
|
|
|
|
|
|
|
|
750 |
|
|
|
209 |
|
||
|
Drug Delivery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
AcelRx Pharmaceuticals, Inc. (3)(9)(13) |
|
Drug Delivery |
|
Equity |
|
Common Stock |
|
|
54,240 |
|
|
|
108 |
|
|
|
230 |
|
|
Edge Therapeutics, Inc. |
|
Drug Delivery |
|
Equity |
|
Preferred Series C-2 |
|
|
215,053 |
|
|
|
1,000 |
|
|
|
1,072 |
|
|
Merrion Pharmaceuticals, Plc (3)(4)(9) |
|
Drug Delivery |
|
Equity |
|
Common Stock |
|
|
20,000 |
|
|
|
9 |
|
|
|
— |
|
|
Neos Therapeutics, Inc.(13)(17) |
|
Drug Delivery |
|
Equity |
|
Preferred Series C |
|
|
300,000 |
|
|
|
1,500 |
|
|
|
1,902 |
|
|
Subtotal: Drug Delivery (0.43%)* |
|
|
|
|
|
|
|
|
|
|
2,617 |
|
|
|
3,204 |
|
||
|
Drug Discovery & Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Aveo Pharmaceuticals, Inc.(3)(9)(13) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
167,864 |
|
|
|
842 |
|
|
|
292 |
|
|
Cerecor Inc. |
|
Drug Discovery & Development |
|
Equity |
|
Preferred Series B |
|
|
3,334,445 |
|
|
|
1,000 |
|
|
|
639 |
|
|
Cerulean Pharma Inc. (3) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
135,501 |
|
|
|
1,000 |
|
|
|
623 |
|
|
Dicerna Pharmaceuticals, Inc. (3)(13) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
142,858 |
|
|
|
1,000 |
|
|
|
1,993 |
|
|
Epirus Biopharmaceuticals, Inc. (3) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
200,000 |
|
|
|
1,000 |
|
|
|
1,143 |
|
|
Genocea Biosciences, Inc. (3) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
223,463 |
|
|
|
2,000 |
|
|
|
3,068 |
|
|
Inotek Pharmaceuticals Corporation (3) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
3,778 |
|
|
|
1,500 |
|
|
|
19 |
|
|
Insmed, Incorporated (3) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
70,771 |
|
|
|
1,000 |
|
|
|
1,728 |
|
|
Melinta Therapeutics |
|
Drug Discovery & Development |
|
Equity |
|
Preferred Series 4 |
|
|
957,224 |
|
|
|
1,000 |
|
|
|
1,010 |
|
|
Paratek Pharmaceuticals, Inc. (p.k.a. Transcept Pharmaceuticals, Inc.) (3) |
|
Drug Discovery & Development |
|
Equity |
|
Common Stock |
|
|
31,580 |
|
|
|
1,744 |
|
|
|
813 |
|
|
Subtotal: Drug Discovery & Development (1.52%)* |
|
|
|
|
|
|
|
|
|
|
12,086 |
|
|
|
11,328 |
|
||
|
Electronics & Computer Hardware |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Identiv, Inc. (3) |
|
Electronics & Computer Hardware |
|
Equity |
|
Common Stock |
|
|
6,700 |
|
|
|
34 |
|
|
|
39 |
|
|
Subtotal: Electronics & Computer Hardware (0.01%)* |
|
|
|
|
|
|
|
|
|
|
34 |
|
|
|
39 |
|
||
|
Energy Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Glori Energy, Inc. (3) |
|
Energy Technology |
|
Equity |
|
Common Stock |
|
|
18,208 |
|
|
|
165 |
|
|
|
26 |
|
|
Modumetal, Inc. |
|
Energy Technology |
|
Equity |
|
Preferred Series C |
|
|
3,107,520 |
|
|
|
500 |
|
|
|
500 |
|
|
SCIEnergy, Inc. |
|
Energy Technology |
|
Equity |
|
Preferred Series 1 |
|
|
385,000 |
|
|
|
761 |
|
|
|
21 |
|
|
Subtotal: Energy Technology (0.07%)* |
|
|
|
|
|
|
|
|
|
|
1,426 |
|
|
|
547 |
|
||
|
Information Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Good Technology Corporation (p.k.a. Visto Corporation) (13) |
|
Information Services |
|
Equity |
|
Common Stock |
|
|
500,000 |
|
|
|
603 |
|
|
|
584 |
|
|
Subtotal: Information Services (0.08%)* |
|
|
|
|
|
|
|
|
|
|
603 |
|
|
|
584 |
|
||
|
Internet Consumer & Business Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Blurb, Inc. (13) |
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series B |
|
|
220,653 |
|
|
|
175 |
|
|
|
283 |
|
|
Lightspeed POS, Inc. (4)(9) |
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series C |
|
|
23,003 |
|
|
|
250 |
|
|
|
280 |
|
|
Oportun (p.k.a. Progress Financial) |
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series G |
|
|
218,351 |
|
|
|
250 |
|
|
|
356 |
|
|
|
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series H |
|
|
87,802 |
|
|
|
250 |
|
|
|
251 |
|
|
Total: Oportun (p.k.a. Progress Financial) |
|
|
|
|
|
|
306,153 |
|
|
|
500 |
|
|
|
607 |
|
||
|
Philotic, Inc. |
|
Internet Consumer & Business Services |
|
Equity |
|
Common Stock |
|
|
9,023 |
|
|
|
93 |
|
|
|
— |
|
|
RazorGator Interactive Group, Inc. |
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series AA |
|
|
34,783 |
|
|
|
15 |
|
|
|
35 |
|
|
Taptera, Inc. |
|
Internet Consumer & Business Services |
|
Equity |
|
Preferred Series B |
|
|
454,545 |
|
|
|
150 |
|
|
|
182 |
|
|
Subtotal: Internet Consumer & Business Services (0.19%)* |
|
|
|
|
|
|
|
|
|
|
1,183 |
|
|
|
1,387 |
|
||
See notes to consolidated financial statements.
15
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost(2) |
|
|
Value(3) |
|
|||
|
Medical Devices & Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Flowonix Medical Incorporated |
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series E |
|
|
221,893 |
|
|
$ |
1,500 |
|
|
$ |
2,048 |
|
|
Gelesis, Inc. (5)(13) |
|
Medical Devices & Equipment |
|
Equity |
|
Common Stock |
|
|
198,202 |
|
|
|
— |
|
|
|
657 |
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series A-1 |
|
|
674,208 |
|
|
|
425 |
|
|
|
736 |
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series A-2 |
|
|
675,676 |
|
|
|
500 |
|
|
|
685 |
|
|
Total: Gelesis, Inc. |
|
|
|
|
|
|
|
|
1,548,086 |
|
|
|
925 |
|
|
|
2,078 |
|
|
Home Dialysis Plus, Inc. |
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series B |
|
|
232,061 |
|
|
|
527 |
|
|
|
541 |
|
|
Medrobotics Corporation (13) |
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series E |
|
|
136,798 |
|
|
|
250 |
|
|
|
160 |
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series F |
|
|
73,971 |
|
|
|
155 |
|
|
|
176 |
|
|
Total: Medrobotics Corporation |
|
|
|
|
|
|
|
|
210,769 |
|
|
|
405 |
|
|
|
336 |
|
|
Novasys Medical, Inc. |
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series D-1 |
|
|
4,118,444 |
|
|
|
1,000 |
|
|
|
— |
|
|
Optiscan Biomedical, Corp. (5)(13) |
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series B |
|
|
6,185,567 |
|
|
|
3,000 |
|
|
|
545 |
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series C |
|
|
1,927,309 |
|
|
|
655 |
|
|
|
163 |
|
|
|
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series D |
|
|
55,103,923 |
|
|
|
5,257 |
|
|
|
5,695 |
|
|
Total: Optiscan Biomedical, Corp. |
|
|
|
|
|
|
|
|
63,216,799 |
|
|
|
8,912 |
|
|
|
6,403 |
|
|
Oraya Therapeutics, Inc. |
|
Medical Devices & Equipment |
|
Equity |
|
Preferred Series 1 |
|
|
1,086,969 |
|
|
|
500 |
|
|
|
375 |
|
|
Subtotal: Medical Devices & Equipment (1.58%)* |
|
|
|
|
|
|
|
|
|
|
13,769 |
|
|
|
11,781 |
|
||
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Atrenta, Inc. |
|
Software |
|
Equity |
|
Preferred Series C |
|
|
1,196,845 |
|
|
|
986 |
|
|
|
1,639 |
|
|
|
|
Software |
|
Equity |
|
Preferred Series D |
|
|
1,028,183 |
|
|
|
959 |
|
|
|
1,550 |
|
|
Total: Atrenta, Inc. |
|
|
|
|
|
|
|
|
2,225,028 |
|
|
|
1,945 |
|
|
|
3,189 |
|
|
Box, Inc. (3)(13) |
|
Software |
|
Equity |
|
Common Stock |
|
|
1,464,747 |
|
|
|
5,818 |
|
|
|
27,303 |
|
|
CapLinked, Inc. |
|
Software |
|
Equity |
|
Preferred Series A-3 |
|
|
53,614 |
|
|
|
51 |
|
|
|
84 |
|
|
ForeScout Technologies, Inc. |
|
Software |
|
Equity |
|
Preferred Series D |
|
|
319,099 |
|
|
|
398 |
|
|
|
653 |
|
|
|
|
Software |
|
Equity |
|
Preferred Series E |
|
|
80,587 |
|
|
|
131 |
|
|
|
168 |
|
|
Total: ForeScout Technologies, Inc. |
|
|
|
|
|
|
|
|
399,686 |
|
|
|
529 |
|
|
|
821 |
|
|
HighRoads, Inc. |
|
Software |
|
Equity |
|
Preferred Series B |
|
|
190,170 |
|
|
|
307 |
|
|
|
233 |
|
|
NewVoiceMedia Limited (4)(9) |
|
Software |
|
Equity |
|
Preferred Series E |
|
|
669,173 |
|
|
|
963 |
|
|
|
1,010 |
|
|
WildTangent, Inc.(13) |
|
Software |
|
Equity |
|
Preferred Series 3 |
|
|
100,000 |
|
|
|
402 |
|
|
|
238 |
|
|
Subtotal: Software (4.42%)* |
|
|
|
|
|
|
|
|
|
|
10,015 |
|
|
|
32,878 |
|
||
|
Specialty Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
QuatRx Pharmaceuticals Company |
|
Specialty Pharmaceuticals |
|
Equity |
|
Preferred Series E |
|
|
241,829 |
|
|
|
750 |
|
|
|
— |
|
|
|
|
Specialty Pharmaceuticals |
|
Equity |
|
Preferred Series E-1 |
|
|
26,955 |
|
|
|
— |
|
|
|
— |
|
|
|
|
Specialty Pharmaceuticals |
|
Equity |
|
Preferred Series G |
|
|
4,667,636 |
|
|
|
— |
|
|
|
— |
|
|
Total: QuatRx Pharmaceuticals Company |
|
|
|
|
|
|
4,936,420 |
|
|
|
750 |
|
|
|
— |
|
||
|
Subtotal: Specialty Pharmaceuticals (0.00%)* |
|
|
|
|
|
|
|
|
|
|
750 |
|
|
|
— |
|
||
|
Surgical Devices |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Gynesonics, Inc. (13) |
|
Surgical Devices |
|
Equity |
|
Preferred Series B |
|
|
219,298 |
|
|
|
250 |
|
|
|
105 |
|
|
|
|
Surgical Devices |
|
Equity |
|
Preferred Series C |
|
|
656,538 |
|
|
|
282 |
|
|
|
197 |
|
|
|
|
Surgical Devices |
|
Equity |
|
Preferred Series D |
|
|
1,991,157 |
|
|
|
712 |
|
|
|
1,088 |
|
|
Total: Gynesonics, Inc. |
|
|
|
|
|
|
|
|
2,866,993 |
|
|
|
1,244 |
|
|
|
1,390 |
|
|
Transmedics, Inc. |
|
Surgical Devices |
|
Equity |
|
Preferred Series B |
|
|
88,961 |
|
|
|
1,100 |
|
|
|
217 |
|
|
|
|
Surgical Devices |
|
Equity |
|
Preferred Series C |
|
|
119,999 |
|
|
|
300 |
|
|
|
149 |
|
|
|
|
Surgical Devices |
|
Equity |
|
Preferred Series D |
|
|
260,000 |
|
|
|
650 |
|
|
|
661 |
|
|
Total: Transmedics, Inc. |
|
Surgical Devices |
|
Equity |
|
Preferred Series D |
|
|
468,960 |
|
|
|
2,050 |
|
|
|
1,027 |
|
|
Subtotal: Surgical Devices (0.33%)* |
|
|
|
|
|
|
|
|
|
|
3,294 |
|
|
|
2,417 |
|
||
|
Total: Equity Investments (9.57%)* |
|
|
|
|
|
|
|
|
|
|
48,629 |
|
|
|
71,194 |
|
||
See notes to consolidated financial statements.
16
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost(2) |
|
|
Value(3) |
|
|||
|
Warrant Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Biotechnology Tools |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Labcyte, Inc. (13) |
|
Biotechnology Tools |
|
Warrant |
|
Preferred Series C |
|
|
1,127,624 |
|
|
$ |
323 |
|
|
$ |
421 |
|
|
Subtotal: Biotechnology Tools (0.06%)* |
|
|
|
|
|
|
|
|
|
|
323 |
|
|
|
421 |
|
||
|
Communications & Networking |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Intelepeer, Inc. (13) |
|
Communications & Networking |
|
Warrant |
|
Preferred Series C |
|
|
117,958 |
|
|
|
102 |
|
|
|
— |
|
|
OpenPeak, Inc. |
|
Communications & Networking |
|
Warrant |
|
Common Stock |
|
|
108,982 |
|
|
|
148 |
|
|
|
— |
|
|
PeerApp, Inc. |
|
Communications & Networking |
|
Warrant |
|
Preferred Series B |
|
|
298,779 |
|
|
|
61 |
|
|
|
81 |
|
|
Peerless Network, Inc. |
|
Communications & Networking |
|
Warrant |
|
Preferred Series A |
|
|
135,000 |
|
|
|
95 |
|
|
|
608 |
|
|
Ping Identity Corporation |
|
Communications & Networking |
|
Warrant |
|
Preferred Series B |
|
|
1,136,277 |
|
|
|
52 |
|
|
|
234 |
|
|
SkyCross, Inc. (13) |
|
Communications & Networking |
|
Warrant |
|
Preferred Series F |
|
|
9,762,777 |
|
|
|
394 |
|
|
|
— |
|
|
Spring Mobile Solutions, Inc. |
|
Communications & Networking |
|
Warrant |
|
Preferred Series D |
|
|
2,834,375 |
|
|
|
418 |
|
|
|
181 |
|
|
Subtotal: Communications & Networking (0.15%)* |
|
|
|
|
|
|
|
|
|
|
1,270 |
|
|
|
1,104 |
|
||
|
Consumer & Business Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Antenna79 (p.k.a. Pong Research Corporation)(13) |
|
Consumer & Business Products |
|
Warrant |
|
Preferred Series A |
|
|
1,662,441 |
|
|
|
228 |
|
|
|
28 |
|
|
Intelligent Beauty, Inc. (13) |
|
Consumer & Business Products |
|
Warrant |
|
Preferred Series B |
|
|
190,234 |
|
|
|
230 |
|
|
|
272 |
|
|
IronPlanet, Inc. |
|
Consumer & Business Products |
|
Warrant |
|
Preferred Series D |
|
|
1,155,821 |
|
|
|
1,076 |
|
|
|
1,092 |
|
|
Market Force Information, Inc. |
|
Consumer & Business Products |
|
Warrant |
|
Preferred Series A-1 |
|
|
150,212 |
|
|
|
25 |
|
|
|
10 |
|
|
The Neat Company (13) |
|
Consumer & Business Products |
|
Warrant |
|
Preferred Series C-1 |
|
|
540,540 |
|
|
|
365 |
|
|
|
280 |
|
|
Subtotal: Consumer & Business Products (0.23%)* |
|
|
|
|
|
|
|
|
|
|
1,924 |
|
|
|
1,682 |
|
||
|
Diagnostic |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Navidea Biopharmaceuticals, Inc. (p.k.a. Neoprobe) (3)(13) |
|
Diagnostic |
|
Warrant |
|
Common Stock |
|
|
333,333 |
|
|
|
244 |
|
|
|
42 |
|
|
Subtotal: Diagnostic (0.01%)* |
|
|
|
|
|
|
|
|
|
|
244 |
|
|
|
42 |
|
||
|
Drug Delivery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
AcelRx Pharmaceuticals, Inc. (3)(9)(13) |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
176,730 |
|
|
|
786 |
|
|
|
231 |
|
|
Agile Therapeutics, Inc (3) |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
180,274 |
|
|
|
730 |
|
|
|
607 |
|
|
BIND Therapeutics, Inc. (3)(13) |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
152,586 |
|
|
|
488 |
|
|
|
77 |
|
|
BioQuiddity Incorporated |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
459,183 |
|
|
|
1 |
|
|
|
— |
|
|
Celator Pharmaceuticals, Inc. (3) |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
210,675 |
|
|
|
138 |
|
|
|
106 |
|
|
Celsion Corporation (3) |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
194,986 |
|
|
|
428 |
|
|
|
68 |
|
|
Dance Biopharm, Inc.(13) |
|
Drug Delivery |
|
Warrant |
|
Preferred Series A |
|
|
97,701 |
|
|
|
74 |
|
|
|
60 |
|
|
Edge Therapeutics, Inc. |
|
Drug Delivery |
|
Warrant |
|
Preferred Series C-1 |
|
|
107,526 |
|
|
|
390 |
|
|
|
303 |
|
|
Egalet Corporation (3) |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
113,421 |
|
|
|
130 |
|
|
|
853 |
|
|
Kaleo, Inc. (p.k.a. Intelliject, Inc.) |
|
Drug Delivery |
|
Warrant |
|
Preferred Series B |
|
|
82,500 |
|
|
|
594 |
|
|
|
1,313 |
|
|
Neos Therapeutics, Inc.(13)(17) |
|
Drug Delivery |
|
Warrant |
|
Preferred Series C |
|
|
170,000 |
|
|
|
285 |
|
|
|
332 |
|
|
Pulmatrix Inc. (3) |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
25,150 |
|
|
|
116 |
|
|
|
85 |
|
|
Revance Therapeutics, Inc. (3) |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
53,511 |
|
|
|
557 |
|
|
|
460 |
|
|
ZP Opco, Inc. (p.k.a. Zosano Pharma) (3) |
|
Drug Delivery |
|
Warrant |
|
Common Stock |
|
|
72,379 |
|
|
|
265 |
|
|
|
130 |
|
|
Subtotal: Drug Delivery (0.62%)* |
|
|
|
|
|
|
|
|
|
|
4,982 |
|
|
|
4,625 |
|
||
See notes to consolidated financial statements.
17
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost(2) |
|
|
Value(3) |
|
|||
|
Drug Discovery & Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
ADMA Biologics, Inc. (3) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
89,750 |
|
|
$ |
295 |
|
|
$ |
239 |
|
|
Anthera Pharmaceuticals, Inc. (3)(13) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
40,178 |
|
|
|
984 |
|
|
|
4 |
|
|
Aveo Pharmaceuticals, Inc. (3)(9)(13) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
608,696 |
|
|
|
194 |
|
|
|
380 |
|
|
Cerecor Inc. |
|
Drug Discovery & Development |
|
Warrant |
|
Preferred Series B |
|
|
625,208 |
|
|
|
70 |
|
|
|
15 |
|
|
Cerulean Pharma Inc. (3) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
137,521 |
|
|
|
357 |
|
|
|
203 |
|
|
Chroma Therapeutics, Ltd. (4)(9) |
|
Drug Discovery & Development |
|
Warrant |
|
Preferred Series D |
|
|
325,261 |
|
|
|
490 |
|
|
|
— |
|
|
Cleveland BioLabs, Inc. (3)(13) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
7,813 |
|
|
|
105 |
|
|
|
9 |
|
|
Concert Pharmaceuticals, Inc. (3) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
70,796 |
|
|
|
367 |
|
|
|
216 |
|
|
Coronado Biosciences, Inc. (3) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
73,009 |
|
|
|
142 |
|
|
|
61 |
|
|
CTI BioPharma Corp. (p.k.a. Cell Therapeutics, Inc.) (3) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
292,398 |
|
|
|
166 |
|
|
|
163 |
|
|
Dicerna Pharmaceuticals, Inc. (3)(13) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
200 |
|
|
|
28 |
|
|
|
— |
|
|
Epirus Biopharmaceuticals, Inc. (3) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
64,194 |
|
|
|
276 |
|
|
|
209 |
|
|
Genocea Biosciences, Inc. (3) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
73,725 |
|
|
|
266 |
|
|
|
466 |
|
|
Horizon Pharma, Inc. (3) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
3,735 |
|
|
|
52 |
|
|
|
51 |
|
|
Melinta Therapeutics |
|
Drug Discovery & Development |
|
Warrant |
|
Preferred Series 3 |
|
|
1,151,936 |
|
|
|
603 |
|
|
|
362 |
|
|
Nanotherapeutics, Inc.(13) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
171,389 |
|
|
|
838 |
|
|
|
2,788 |
|
|
Neothetics, Inc. (p.k.a. Lithera, Inc) (3)(13) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
46,838 |
|
|
|
266 |
|
|
|
143 |
|
|
Neuralstem, Inc. (3)(13) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
75,187 |
|
|
|
77 |
|
|
|
43 |
|
|
Paratek Pharmaceutcals, Inc. (p.k.a. Transcept Pharmaceuticals, Inc.) (3) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
5,121 |
|
|
|
87 |
|
|
|
2 |
|
|
uniQure B.V. (3)(4)(9) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
37,174 |
|
|
|
218 |
|
|
|
447 |
|
|
XOMA Corporation (3)(9)(13) |
|
Drug Discovery & Development |
|
Warrant |
|
Common Stock |
|
|
181,268 |
|
|
|
279 |
|
|
|
291 |
|
|
Subtotal: Drug Discovery & Development (0.82%)* |
|
|
|
|
|
|
|
|
|
|
6,160 |
|
|
|
6,092 |
|
||
|
Electronics & Computer Hardware |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Clustrix, Inc. |
|
Electronics & Computer Hardware |
|
Warrant |
|
Common Stock |
|
|
50,000 |
|
|
|
12 |
|
|
|
7 |
|
|
Subtotal: Electronics & Computer Hardware (0.00%)* |
|
|
|
|
|
|
|
|
|
|
12 |
|
|
|
7 |
|
||
|
Energy Technology |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Agrivida, Inc. (13) |
|
Energy Technology |
|
Warrant |
|
Preferred Series D |
|
|
471,327 |
|
|
|
120 |
|
|
|
162 |
|
|
Alphabet Energy, Inc.(13) |
|
Energy Technology |
|
Warrant |
|
Preferred Series A |
|
|
86,329 |
|
|
|
82 |
|
|
|
162 |
|
|
American Superconductor Corporation (3) |
|
Energy Technology |
|
Warrant |
|
Common Stock |
|
|
58,823 |
|
|
|
39 |
|
|
|
51 |
|
|
Brightsource Energy, Inc. (13) |
|
Energy Technology |
|
Warrant |
|
Preferred Series 1 |
|
|
175,000 |
|
|
|
780 |
|
|
|
119 |
|
|
Calera, Inc. (13) |
|
Energy Technology |
|
Warrant |
|
Preferred Series C |
|
|
44,529 |
|
|
|
513 |
|
|
|
— |
|
|
EcoMotors, Inc.(13) |
|
Energy Technology |
|
Warrant |
|
Preferred Series B |
|
|
437,500 |
|
|
|
308 |
|
|
|
154 |
|
|
Fluidic, Inc. |
|
Energy Technology |
|
Warrant |
|
Preferred Series D |
|
|
61,804 |
|
|
|
102 |
|
|
|
28 |
|
|
Fulcrum Bioenergy, Inc. |
|
Energy Technology |
|
Warrant |
|
Preferred Series C-1 |
|
|
280,897 |
|
|
|
275 |
|
|
|
102 |
|
|
GreatPoint Energy, Inc.(13) |
|
Energy Technology |
|
Warrant |
|
Preferred Series D-1 |
|
|
393,212 |
|
|
|
548 |
|
|
|
— |
|
|
Polyera Corporation (13) |
|
Energy Technology |
|
Warrant |
|
Preferred Series C |
|
|
311,609 |
|
|
|
338 |
|
|
|
509 |
|
|
Proterra, Inc. |
|
Energy Technology |
|
Warrant |
|
Preferred Series 4 |
|
|
318,345 |
|
|
|
21 |
|
|
|
140 |
|
|
SCIEnergy, Inc. |
|
Energy Technology |
|
Warrant |
|
Common Stock |
|
|
530,811 |
|
|
|
181 |
|
|
|
— |
|
|
|
|
Energy Technology |
|
Warrant |
|
Preferred Series 1 |
|
|
145,811 |
|
|
|
50 |
|
|
|
— |
|
|
Total: SCIEnergy, Inc. |
|
|
|
|
|
|
|
|
676,622 |
|
|
|
231 |
|
|
|
— |
|
|
Scifiniti (p.k.a. Integrated Photovoltaics, Inc.) (13) |
|
Energy Technology |
|
Warrant |
|
Preferred Series A-1 |
|
|
390,000 |
|
|
|
82 |
|
|
|
66 |
|
|
Solexel, Inc.(13) |
|
Energy Technology |
|
Warrant |
|
Preferred Series C |
|
|
1,171,625 |
|
|
|
1,162 |
|
|
|
517 |
|
|
Stion Corporation (5) |
|
Energy Technology |
|
Warrant |
|
Preferred Series Seed |
|
|
2,154 |
|
|
|
1,378 |
|
|
|
— |
|
|
Sungevity Development, LLC |
|
Energy Technology |
|
Warrant |
|
Preferred Series C |
|
|
32,472,222 |
|
|
|
902 |
|
|
|
1,012 |
|
|
TAS Energy, Inc. |
|
Energy Technology |
|
Warrant |
|
Preferred Series AA |
|
|
428,571 |
|
|
|
299 |
|
|
|
— |
|
|
Tendril Networks |
|
Energy Technology |
|
Warrant |
|
Preferred Series 3-A |
|
|
679,862 |
|
|
|
111 |
|
|
|
111 |
|
|
TPI Composites, Inc. |
|
Energy Technology |
|
Warrant |
|
Preferred Series B |
|
|
160 |
|
|
|
273 |
|
|
|
241 |
|
|
Trilliant, Inc.(13) |
|
Energy Technology |
|
Warrant |
|
Preferred Series A |
|
|
320,000 |
|
|
|
162 |
|
|
|
20 |
|
|
Subtotal: Energy Technology (0.46%)* |
|
|
|
|
|
|
|
|
|
|
7,726 |
|
|
|
3,394 |
|
||
|
Healthcare Services, Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Chromadex Corporation (3)(13) |
|
Healthcare Services, Other |
|
Warrant |
|
Common Stock |
|
|
419,020 |
|
|
|
157 |
|
|
|
181 |
|
|
Subtotal: Healthcare Services, Other (0.02%)* |
|
|
|
|
|
|
|
|
|
|
157 |
|
|
|
181 |
|
||
See notes to consolidated financial statements.
18
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost(2) |
|
|
Value(3) |
|
|||
|
Information Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Cha Cha Search, Inc.(13) |
|
Information Services |
|
Warrant |
|
Preferred Series G |
|
|
48,232 |
|
|
$ |
58 |
|
|
$ |
6 |
|
|
INMOBI Inc. (4)(9) |
|
Information Services |
|
Warrant |
|
Common Stock |
|
|
46,874 |
|
|
|
82 |
|
|
|
24 |
|
|
InXpo, Inc. (13) |
|
Information Services |
|
Warrant |
|
Preferred Series C |
|
|
648,400 |
|
|
|
98 |
|
|
|
10 |
|
|
|
|
Information Services |
|
Warrant |
|
Preferred Series C-1 |
|
|
873,599 |
|
|
|
64 |
|
|
|
13 |
|
|
Total: InXpo, Inc. |
|
|
|
|
|
|
|
|
1,521,999 |
|
|
|
162 |
|
|
|
23 |
|
|
RichRelevance, Inc.(13) |
|
Information Services |
|
Warrant |
|
Preferred Series E |
|
|
112,612 |
|
|
|
98 |
|
|
|
— |
|
|
Subtotal: Information Services (0.01%)* |
|
|
|
|
|
|
|
|
|
|
400 |
|
|
|
53 |
|
||
|
Internet Consumer & Business Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Aria Systems, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series E |
|
|
119,846 |
|
|
|
37 |
|
|
|
36 |
|
|
Blurb, Inc. (13) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series C |
|
|
234,280 |
|
|
|
636 |
|
|
|
188 |
|
|
CashStar, Inc.(13) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series C-2 |
|
|
727,272 |
|
|
|
130 |
|
|
|
51 |
|
|
Gazelle, Inc. (13) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series A-1 |
|
|
991,288 |
|
|
|
158 |
|
|
|
94 |
|
|
Just Fabulous, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series B |
|
|
206,184 |
|
|
|
1,102 |
|
|
|
1,356 |
|
|
Lightspeed POS, Inc. (4)(9) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series C |
|
|
24,561 |
|
|
|
20 |
|
|
|
73 |
|
|
Oportun (p.k.a. Progress Financial) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series G |
|
|
174,562 |
|
|
|
78 |
|
|
|
97 |
|
|
Prism Education Group, Inc. (13) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series B |
|
|
200,000 |
|
|
|
43 |
|
|
|
— |
|
|
ReachLocal (3) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Common Stock |
|
|
177,304 |
|
|
|
155 |
|
|
|
191 |
|
|
ShareThis, Inc.(13) |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series C |
|
|
493,502 |
|
|
|
547 |
|
|
|
266 |
|
|
Tapjoy, Inc. |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series D |
|
|
748,670 |
|
|
|
316 |
|
|
|
103 |
|
|
Tectura Corporation |
|
Internet Consumer & Business Services |
|
Warrant |
|
Preferred Series B-1 |
|
|
253,378 |
|
|
|
51 |
|
|
|
— |
|
|
Subtotal: Internet Consumer & Business Services (0.33%)* |
|
|
|
|
|
|
|
|
|
|
3,273 |
|
|
|
2,455 |
|
||
|
Media/Content/Info |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Machine Zone, Inc. |
|
Media/Content/Info |
|
Warrant |
|
Common Stock |
|
|
73,756 |
|
|
|
918 |
|
|
|
848 |
|
|
Rhapsody International, Inc.(13) |
|
Media/Content/Info |
|
Warrant |
|
Common Stock |
|
|
715,755 |
|
|
|
384 |
|
|
|
220 |
|
|
Zoom Media Group, Inc. |
|
Media/Content/Info |
|
Warrant |
|
Preferred Series A |
|
|
1,204 |
|
|
|
348 |
|
|
|
110 |
|
|
Subtotal: Media/Content/Info (0.16%)* |
|
|
|
|
|
|
|
|
|
|
1,650 |
|
|
|
1,178 |
|
||
|
Medical Devices & Equipment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Amedica Corporation (3)(13) |
|
Medical Devices & Equipment |
|
Warrant |
|
Common Stock |
|
|
516,129 |
|
|
|
459 |
|
|
|
— |
|
|
Aspire Bariatrics, Inc.(13) |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series D |
|
|
335,000 |
|
|
|
419 |
|
|
|
426 |
|
|
Avedro, Inc.(13) |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series D |
|
|
1,308,451 |
|
|
|
401 |
|
|
|
228 |
|
|
Flowonix Medical Incorporated |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series E |
|
|
110,947 |
|
|
|
203 |
|
|
|
460 |
|
|
Gamma Medica, Inc. |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series A |
|
|
357,500 |
|
|
|
170 |
|
|
|
183 |
|
|
Gelesis, Inc.(5)(13) |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series A-1 |
|
|
263,688 |
|
|
|
78 |
|
|
|
157 |
|
|
Home Dialysis Plus, Inc. |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series A |
|
|
500,000 |
|
|
|
402 |
|
|
|
245 |
|
|
InspireMD, Inc. (3)(4)(9) |
|
Medical Devices & Equipment |
|
Warrant |
|
Common Stock |
|
|
168,351 |
|
|
|
242 |
|
|
|
2 |
|
|
Medrobotics Corporation(13) |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series E |
|
|
455,539 |
|
|
|
370 |
|
|
|
199 |
|
|
MELA Sciences, Inc. (3) |
|
Medical Devices & Equipment |
|
Warrant |
|
Common Stock |
|
|
69,320 |
|
|
|
402 |
|
|
|
2 |
|
|
nContact Surgical, Inc.(13) |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series D-1 |
|
|
201,439 |
|
|
|
266 |
|
|
|
555 |
|
|
NetBio, Inc. |
|
Medical Devices & Equipment |
|
Warrant |
|
Common Stock |
|
|
2,568 |
|
|
|
408 |
|
|
|
38 |
|
|
NinePoint Medical, Inc.(13) |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series A-1 |
|
|
587,840 |
|
|
|
170 |
|
|
|
294 |
|
|
Novasys Medical, Inc. |
|
Medical Devices & Equipment |
|
Warrant |
|
Common Stock |
|
|
109,449 |
|
|
|
2 |
|
|
|
— |
|
|
|
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series D |
|
|
526,840 |
|
|
|
125 |
|
|
|
— |
|
|
|
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series D-1 |
|
|
53,607 |
|
|
|
6 |
|
|
|
— |
|
|
Total: Novasys Medical, Inc. |
|
|
|
|
|
|
|
|
689,896 |
|
|
|
133 |
|
|
|
— |
|
|
Optiscan Biomedical, Corp. (5)(13) |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series D |
|
|
10,535,275 |
|
|
|
1,252 |
|
|
|
215 |
|
|
Oraya Therapeutics, Inc. |
|
Medical Devices & Equipment |
|
Warrant |
|
Common Stock |
|
|
954 |
|
|
|
66 |
|
|
|
— |
|
|
|
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series 1 |
|
|
1,632,084 |
|
|
|
676 |
|
|
|
87 |
|
|
Total: Oraya Therapeutics, Inc. |
|
|
|
|
|
|
|
|
1,633,038 |
|
|
|
742 |
|
|
|
87 |
|
|
Quanterix Corporation |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series C |
|
|
115,618 |
|
|
|
156 |
|
|
|
107 |
|
|
SonaCare Medical, LLC (p.k.a. US HIFU, LLC) |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series A |
|
|
6,464 |
|
|
|
188 |
|
|
|
— |
|
|
ViewRay, Inc.(13)(17) |
|
Medical Devices & Equipment |
|
Warrant |
|
Preferred Series C |
|
|
43,103 |
|
|
|
333 |
|
|
|
306 |
|
|
Subtotal: Medical Devices & Equipment (0.47%)* |
|
|
|
|
|
|
|
|
|
|
6,794 |
|
|
|
3,504 |
|
||
See notes to consolidated financial statements.
19
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost(2) |
|
|
Value(3) |
|
|||
|
Semiconductors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Achronix Semiconductor Corporation (13) |
|
Semiconductors |
|
Warrant |
|
Preferred Series C |
|
|
360,000 |
|
|
$ |
160 |
|
|
$ |
22 |
|
|
|
|
Semiconductors |
|
Warrant |
|
Preferred Series D-1 |
|
|
500,000 |
|
|
|
6 |
|
|
|
6 |
|
|
Total: Achronix Semiconductor Corporation |
|
|
|
|
|
|
860,000 |
|
|
|
166 |
|
|
|
28 |
|
||
|
Aquantia Corp. |
|
Semiconductors |
|
Warrant |
|
Preferred Series G |
|
|
196,831 |
|
|
|
4 |
|
|
|
8 |
|
|
Avnera Corporation |
|
Semiconductors |
|
Warrant |
|
Preferred Series E |
|
|
141,567 |
|
|
|
47 |
|
|
|
34 |
|
|
Subtotal: Semiconductors (0.01%)* |
|
|
|
|
|
|
|
|
|
|
217 |
|
|
|
70 |
|
||
|
Software |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Braxton Technologies, LLC |
|
Software |
|
Warrant |
|
Preferred Series A |
|
|
168,750 |
|
|
|
188 |
|
|
|
— |
|
|
CareCloud Corporation (13) |
|
Software |
|
Warrant |
|
Preferred Series B |
|
|
413,433 |
|
|
|
258 |
|
|
|
581 |
|
|
Clickfox, Inc. (13) |
|
Software |
|
Warrant |
|
Preferred Series B |
|
|
1,038,563 |
|
|
|
330 |
|
|
|
648 |
|
|
|
|
Software |
|
Warrant |
|
Preferred Series C |
|
|
592,019 |
|
|
|
730 |
|
|
|
439 |
|
|
|
|
Software |
|
Warrant |
|
Preferred Series C-A |
|
|
46,109 |
|
|
|
13 |
|
|
|
29 |
|
|
Total: Clickfox, Inc. |
|
|
|
|
|
|
|
|
1,676,691 |
|
|
|
1,073 |
|
|
|
1,116 |
|
|
Daegis Inc. (p.k.a. Unify Corporation) (3)(13) |
|
Software |
|
Warrant |
|
Common Stock |
|
|
718,860 |
|
|
|
1,434 |
|
|
|
3 |
|
|
Hillcrest Laboratories, Inc.(13) |
|
Software |
|
Warrant |
|
Preferred Series E |
|
|
1,865,650 |
|
|
|
55 |
|
|
|
135 |
|
|
JumpStart Games, Inc. (p.k.a Knowledge Holdings, Inc.)(13) |
|
Software |
|
Warrant |
|
Preferred Series E |
|
|
614,333 |
|
|
|
16 |
|
|
|
— |
|
|
Message Systems, Inc. (13) |
|
Software |
|
Warrant |
|
Preferred Series B |
|
|
408,011 |
|
|
|
334 |
|
|
|
386 |
|
|
Mobile Posse, Inc.(13) |
|
Software |
|
Warrant |
|
Preferred Series C |
|
|
396,430 |
|
|
|
130 |
|
|
|
61 |
|
|
Neos Geosolutions, Inc. (13) |
|
Software |
|
Warrant |
|
Preferred Series 3 |
|
|
221,150 |
|
|
|
22 |
|
|
|
185 |
|
|
NewVoiceMedia Limited (4)(9) |
|
Software |
|
Warrant |
|
Preferred Series E |
|
|
225,586 |
|
|
|
33 |
|
|
|
46 |
|
|
Poplicus Incorporated (13) |
|
Software |
|
Warrant |
|
Preferred Series C |
|
|
2,595,230 |
|
|
|
— |
|
|
|
90 |
|
|
Soasta, Inc.(13) |
|
Software |
|
Warrant |
|
Preferred Series E |
|
|
410,800 |
|
|
|
691 |
|
|
|
636 |
|
|
Sonian, Inc.(13) |
|
Software |
|
Warrant |
|
Preferred Series C |
|
|
185,949 |
|
|
|
106 |
|
|
|
45 |
|
|
StrongView Systems, Inc. |
|
Software |
|
Warrant |
|
Preferred Series C |
|
|
551,470 |
|
|
|
168 |
|
|
|
221 |
|
|
Touchcommerce, Inc.(13) |
|
Software |
|
Warrant |
|
Preferred Series E |
|
|
1,885,930 |
|
|
|
361 |
|
|
|
228 |
|
|
Subtotal: Software (0.50%)* |
|
|
|
|
|
|
|
|
|
|
4,869 |
|
|
|
3,733 |
|
||
|
Specialty Pharmaceuticals |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Alimera Sciences, Inc. (3) |
|
Specialty Pharmaceuticals |
|
Warrant |
|
Common Stock |
|
|
285,016 |
|
|
|
729 |
|
|
|
423 |
|
|
QuatRx Pharmaceuticals Company |
|
Specialty Pharmaceuticals |
|
Warrant |
|
Preferred Series E |
|
|
155,324 |
|
|
|
307 |
|
|
|
— |
|
|
Subtotal: Specialty Pharmaceuticals (0.06%)* |
|
|
|
|
|
|
|
|
|
|
1,036 |
|
|
|
423 |
|
||
See notes to consolidated financial statements.
20
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
June 30, 2015
(unaudited)
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment (1) |
|
Series |
|
Shares |
|
|
Cost(2) |
|
|
Value(3) |
|
|||
|
Surgical Devices |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Gynesonics, Inc.(13) |
|
Surgical Devices |
|
Warrant |
|
Preferred Series C |
|
|
180,480 |
|
|
$ |
75 |
|
|
$ |
51 |
|
|
|
|
Surgical Devices |
|
Warrant |
|
Preferred Series D |
|
|
1,575,965 |
|
|
|
320 |
|
|
|
582 |
|
|
Total: Gynesonics, Inc. |
|
|
|
|
|
|
|
|
1,756,445 |
|
|
|
395 |
|
|
|
633 |
|
|
Transmedics, Inc. |
|
Surgical Devices |
|
Warrant |
|
Preferred Series B |
|
|
40,436 |
|
|
|
224 |
|
|
|
4 |
|
|
|
|
Surgical Devices |
|
Warrant |
|
Preferred Series D |
|
|
175,000 |
|
|
|
100 |
|
|
|
241 |
|
|
Total: Transmedics, Inc. |
|
|
|
|
|
|
|
|
215,436 |
|
|
|
324 |
|
|
|
245 |
|
|
Subtotal: Surgical Devices (0.12%)* |
|
|
|
|
|
|
|
|
|
|
719 |
|
|
|
878 |
|
||
|
Total: Warrant Investments (4.01%)* |
|
|
|
|
|
|
|
|
|
|
41,756 |
|
|
|
29,842 |
|
||
|
Total Investments (166.55%)* |
|
|
|
|
|
|
|
|
|
$ |
1,261,006 |
|
|
$ |
1,238,655 |
|
||
|
* |
Value as a percent of net assets |
|
(1) |
Preferred and common stock, warrants, and equity interests are generally non-income producing. |
|
(2) |
Gross unrealized appreciation, gross unrealized depreciation, and net depreciation for federal income tax purposes totaled $45.7 million, $68.8 million and $23.1 million respectively. The tax cost of investments is $1.3 billion. |
|
(3) |
Except for warrants in 35 publicly traded companies and common stock in 14 publicly traded companies, all investments are restricted at June 30, 2015 and were valued at fair value as determined in good faith by the Audit Committee of the Board of Directors. No unrestricted securities of the same issuer are outstanding. The Company uses the Standard Industrial Code for classifying the industry grouping of its portfolio companies. |
|
(4) |
Non-U.S. company or the company’s principal place of business is outside the United States. |
|
(5) |
Affiliate investment that is defined under the Investment Company Act of 1940 as companies in which HTGC owns at least 5% but not more than 25% of the voting securities of the company. |
|
(6) |
Control investment that is defined under the Investment Company Act of 1940 as companies in which HTGC owns at least 25% of the voting securities of the company or has greater than 50% representation on its board. There were no control investments at June 30, 2015. |
|
(7) |
Debt is on non-accrual status at June 30, 2015, and is therefore considered non-income producing. |
|
(8) |
Denotes that all or a portion of the debt investment is convertible debt. |
|
(9) |
Indicates assets that the Company deems not “qualifying assets” under section 55(a) of the Investment Company Act of 1940, as amended. Qualifying assets must represent at least 70% of the Company’s total assets at the time of acquisition of any additional non-qualifying assets. |
|
(10) |
Denotes that all or a portion of the debt investment secures the notes offered in the Debt Securitization (as defined in Note 4). |
|
(11) |
Denotes that all or a portion of the debt investment principal includes accumulated PIK, or payment-in-kind, interest and is net of repayments. |
|
(12) |
Denotes that all or a portion of the debt investment includes an exit fee receivable. |
|
(13) |
Denotes that all or a portion of the investment in this portfolio company is held by HT II or HT III, the Company’s wholly-owned SBIC subsidiaries. |
|
(14) |
The stated ‘Maturity Date’ for the Tectura assets reflects the last extension of the forbearance period on these loans. The borrower loans remain outstanding and management is continuing to work with the borrower to satisfy the obligations. The Company’s investment team and Investment Committee continue to closely monitor developments at the borrower company. |
|
(15) |
Repayment of debt investment is delinquent within 60 days of the contractual maturity date as of June 30, 2015. |
|
(16) |
The stated PIK interest rate may be reduced to 1.50% subject to achievement of a milestone by the portfolio company. |
|
(17) |
Subsequent to June 30, 2015, this company completed an initial public offering or alternative public offering. Note that the June 30, 2015 fair value does not reflect any potential impact of the conversion of our preferred shares to common shares which may include reverse splits associated with the offering. |
See notes to consolidated financial statements.
21
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
December 31, 2014
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment(1) |
|
Maturity Date |
|
Interest Rate and Floor |
|
Principal Amount |
|
|
Cost(2) |
|
|
Value(3) |
|
|||
|
Debt Investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Biotechnology Tools |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Labcyte, Inc. (10)(12)(13) |
|
Biotechnology Tools |
|
Senior Secured |
|
June 2016 |
|
Interest rate PRIME + 6.70% or Floor rate of 9.95% |
|
$ |
2,695 |
|
|
$ |
2,869 |
|
|
$ |
2,869 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
2,869 |
|
|
|
2,869 |
|
||
|
Subtotal: Biotechnology Tools (0.44%)* |
|
|
|
|
|
|
|
|
|
|
|
|
2,869 |
|
|
|
2,869 |
|
||
|
Communications & Networking |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
OpenPeak, Inc. (10)(12) |
|
Communications & Networking |
|
Senior Secured |
|
April 2017 |
|
Interest rate PRIME + 8.75% or Floor rate of 12.00% |
|
$ |
12,889 |
|
|
|
13,193 |
|
|
|
13,193 |
|
|
SkyCross, Inc. (12)(13) |
|
Communications & Networking |
|
Senior Secured |
|
January 2018 |
|
Interest rate PRIME + 9.70% or Floor rate of 12.95% |
|
$ |
22,000 |
|
|
|
21,580 |
|
|
|
20,149 |
|
|
Spring Mobile Solutions, Inc. (10)(12) |
|
Communications & Networking |
|
Senior Secured |
|
November 2016 |
|
Interest rate PRIME + 8.00% or Floor rate of 11.25% |
|
$ |
18,840 |
|
|
|
18,928 |
|
|
|
19,116 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
53,701 |
|
|
|
52,458 |
|
||
|
Subtotal: Communications & Networking (7.96%)* |
|
|
|
|
|
|
|
|
|
|
|
|
53,701 |
|
|
|
52,458 |
|
||
|
Consumer & Business Products |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Antenna79 (p.k.a. Pong Research Corporation) (12)(13) |
|
Consumer & Business Products |
|
Senior Secured |
|
December 2017 |
|
Interest rate PRIME + 6.75% or Floor rate of 10.00% |
|
$ |
5,000 |
|
|
|
4,912 |
|
|
|
4,884 |
|
|
|
|
Consumer & Business Products |
|
Senior Secured |
|
June 2016 |
|
Interest rate PRIME + 6.75% or Floor rate of 10.00% |
|
$ |
216 |
|
|
|
89 |
|
|
|
89 |
|
|
Total Antenna79 (p.k.a. Pong Research Corporation) |
|
|
|
|
|
|
|
$ |
5,216 |
|
|
|
5,001 |
|
|
|
4,973 |
|
||
|
Fluc, Inc. (8) |
|
Consumer & Business Products |
|
Convertible Senior Note |
|
March 2017 |
|
Interest rate FIXED 4.00% |
|
$ |
100 |
|
|
|
100 |
|
|
|
100 |
|
|
IronPlanet, Inc. (12) |
|
Consumer & Business Products |
|
Senior Secured |
|
November 2017 |
|
Interest rate PRIME + 6.20% or Floor rate of 9.45% |
|
$ |
37,500 |
|
|
|
36,345 |
|
|
|
36,345 |
|
|
The Neat Company (11)(12)(13) |
|
Consumer & Business Products |
|
Senior Secured |
|
September 2017 |
|
Interest rate PRIME + 7.75% or Floor rate of 11.00%, PIK Interest 1.00% |
|
$ |
20,061 |
|
|
|
19,422 |
|
|
|
19,422 |
|
|
Subtotal: 1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
60,868 |
|
|
|
60,840 |
|
||
|
Subtotal: Consumer & Business Products (9.23%)* |
|
|
|
|
|
|
|
|
|
|
|
|
60,868 |
|
|
|
60,840 |
|
||
See notes to consolidated financial statements.
22
HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
CONSOLIDATED SCHEDULE OF INVESTMENTS
December 31, 2014
(dollars in thousands)
|
Portfolio Company |
|
Sub-Industry |
|
Type of Investment(1) |
|
Maturity Date |
|
Interest Rate and Floor |
|
Principal Amount |
|
|
Cost(2) |
|
|
Value(3) |
|
|||
|
Drug Delivery |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Revance Therapeutics, Inc. (10)(12) |
|
Drug Delivery |
|
Senior Secured |
|
March 2015 |
|
Interest rate PRIME + 6.60% or Floor rate of 9.85% |
|
$ |
2,098 |
|
|
$ |
2,458 |
|
|
$ |
2,458 |
|
|
|
|
Drug Delivery |
|
Senior Secured |
|
March 2015 |
|
Interest rate PRIME + 6.60% or Floor rate of 9.85% |
|
$ |
210 |
|
|
|
246 |
|
|
|
246 |
|
|
Total Revance Therapeutics, Inc. |
|
|
|
|
|
|
|
$ |
2,308 |
|
|
|
2,704 |
|
|
|
2,704 |
|
||
|
Subtotal: Under 1 Year Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
2,704 |
|
|
|
2,704 |
|
||
|
1-5 Years Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
AcelRx Pharmaceuticals, Inc.(9)(10)(12)(13) |
|
Drug Delivery |
|
Senior Secured |
|
October 2017 |
|
Interest rate PRIME + 3.85% or Floor rate of 9.10% |
|
$ |
25,000 |
|
|
|
24,831 |
|
|
|
24,969 |
|
|
BIND Therapeutics, Inc.(12)(13) |
|
Drug Delivery |
|
Senior Secured |
|
September 2016 |
|
Interest rate PRIME + 7.00% or Floor rate of 10.25% |
|
$ |
3,274 |
|
|
|
3,343 |
|
|
|
3,228 |
|
|
BioQuiddity Incorporated (12) |
|
Drug Delivery |
|
Senior Secured |
|
May 2018 |
|
Interest rate PRIME + 8.00% or Floor rate of 11.25% |
|
$ |
7,500 |
|
|
|
7,439 |
|
|
|
7,439 |
|
|
Celator Pharmaceuticals, Inc. (10)(12) |
|
Drug Delivery |
|
Senior Secured |
|
June 2018 |
|
Interest rate PRIME + 6.50% or Floor rate of 9.75% |
|
$ |
10,000 |
|
|
|
9,927 |
|
|
|
9,899 |
|
|
Celsion Corporation (10)(12) |
|
Drug Delivery |
|
Senior Secured |
|
June 2017 |
|
Interest rate PRIME + 8.00% or Floor rate of 11.25% |
|
$ |
10,000 |
|
|
|
9,858 |
|
|
|
10,027 |
|
|
Dance Biopharm, Inc. (12)(13) |
|
Drug Delivery |
|
Senior Secured |
|
November 2017 |
|
Interest rate PRIME + 7.40% or Floor rate of 10.65% |
|
$ |
3,905 |
|
|
|
3,871 |
|
|
|
3,864 |
|
|
Edge Therapeutics, Inc. (12) |
|
Drug Delivery |
|
Senior Secured |
|
March 2018 |
|
Interest rate PRIME + 5.95% or Floor rate of 10.45% |
|
$ |
3,000 |
|
|
|
2,847 |
|
|
|
2,847 |
|
|
Neos Therapeutics, Inc. (12)(13) |
|
Drug Delivery |
|
Senior Secured |
|
October 2017 |
|
Interest rate PRIME + 7.25% or Floor rate of 10.50% |
|
$ |
5,000 |
|
|
|
4,916 |
|
|
|
4,916 |
|
|
|
|
Drug Delivery |
|
Senior Secured |
|
October 2017 |
|
Interest rate FIXED 9.00% |
|
$ |
10,000 |
|
|
|
10,010 |
|
|
|
||